CHARLOTTE, N.C. (WBTV) – The United States has said it will not send troops to Ukraine, but people will still feel impacts from the war when it comes to the local economy and investments.
Experts tell WBTV if this war drags on and the sanctions on Russia become greater, this could mean significant impacts on the U.S. economy and our personal investments.
“The problem is the stock market does not like uncertainty, and when there’s uncertainty, the stock market reacts,” said Steve Cox, Professor of Business Administration, McColl School of Business at Queens University at Charlotte.
When Russia invaded Ukraine this week, the stock market dropped, but has rebounded. The volatile market has some people concerned about their investments.
“If you can withstand the ups and downs then this too shall pass, if you believe in the American economy which I do, we’ll be able to weather this storm,” Cox said.
Professor Cox said younger people may be more inclined to wait things out with the stock market, but older people or those in need of money may want to look at other options.
Chris Miles with Money Ripples says people may want to consider stable and conservative options to move their money.
“It could be bonds, money markets, I mean the most they will be cash even they don’t make anything and people worry about losing to inflation. The thing I remind people is that losing to inflation is not the worst-case scenario, you know, losing 20% or more in the stock market and then…
