Financial manager calls Dow drop a 'slump'

By Elizabeth Berry, Evening assignment manager, beth@wjxt.com
Published On: Aug 06 2014 12:06:54 PM EDT
Updated On: Aug 01 2014 11:40:00 PM EDT

Brendan McDermid / Reuters

JACKSONVILLE, Fla. -

Financial manager Joe Krier, of Krier Wealth Management, told News4Jax Friday night this week's slump on Wall Street, is just that -- a slump.

The Dow ended the week losing 387 points. The drop happened Thursday and Friday.

Krier said any bad week brings back memories of the market crash in 2008, but he said there's some good news to be found in the drop.

"People are worried about the Federal Reserve raising interest rates. They wouldn't even consider raising interest rates if they didn't think things were going well," said Krier.

Krier said a two-day break in the market can be useful and he thinks things will calm down next week.

"We're telling our clients to keep what they have," said Krier. "We need more evidence before making any moves."

Krier will join News4Jax on "The Morning Show" at 7:15 a.m. Monday with more advice on the latest stock market slump.

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