(New York City, NY) - The Dow Jones Industrial Average was down close to 2,000 points late in the

afternoon Thursday mostly due to fears over coronavirus.

Local private investor Tim Stabosz says the best thing to do is not panic.

He feels people are overreacting to coronavirus and the market will stabilize

at some point.

Stabosz said people with IRA’s and other retirement accounts should not pull out of the

market.

He said those folks are in it for the long term and, eventually, the stock market will be on

the upswing again.

Stabosz also said now is an opportunity for private investors like himself to buy stocks hurt by

the downfall and turn a profit when those stocks begin rising again.

Stabosz, a former two term member of the LaPorte City Council, said there have been worse

crashes of the market during his close to 30-years as a private investor and the market rebounded

from those down periods.