By Blake Haas

BLOOMINGTON – Between a lack of a second stimulus and election uncertainty, one Central Illinois advisor says with a week until the election, markets are going to be rocky.

With Savant Wealth Management, Kevin Kingston told WJBC’s Marc Strauss, market volatility is a result of a variety of issues.

“If you look at market fundamentals, you look at political issues. The earnings are somewhat disappointing. The lack of getting a stimulus deal completed is very disappointing to the markets. You are seeing increases in virus counts, so that’s adding concerns. The governor is now pounding his chest again; all these things kind of come together to give you a negative environment. It’s not surprising to see the markets react this way.”

On Monday morning, the Dow Jones Industrial Average dropped over 800 points or 2.9%.

“We always do talk about how the markets do climb a wall of worry. So you don’t want to get desperate where you think the sky is falling and I need to get out. I need to move to the sidelines. It’s a losing strategy this time like it was in March and typically is. You want to stay the course and look long-term. This is just one day or one week wherein the scheme of things where the retail investor or someone retirement planning is looking forward to the next 10, 20, 30-years.”

In October, the DOW is trading roughly 4.29% lower compared to the month’s start.

Blake Haas can be reached at [email protected].