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Charlottesville Accountants Weigh in On Dow Jones Plunge

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The Dow Jones dropped over 1,000 points on Feb. 5 The Dow Jones dropped over 1,000 points on Feb. 5
CHARLOTTESVILLE, Va. (WVIR) -

Accountants in the Charlottesville area are telling people not to panic after the Dow Jones Industrial Average took a major plunge on Monday, February 5.

United States stocks fell sharply on Monday, with the Dow losing over 1,000 points. It was the worst one-day fall for the Dow in history, and the largest drop for the Standard & Poor's 500 index since 2011.

Phil Shiflett, a partner at Hantzmon Wiebel LLP, has some advice for those worried about their finances.

“See what your individual situation looks like with your particular account and guess your best, but don't be rash,” says Shiflett. “I would not advise anybody getting out of the market totally tomorrow or something like that. Because, again, most of us, it’s our retirement funds and it's a long term deal.”

At one point, the Dow was down more than 1,500 points in the final hour of trading. Accountants at Charlottesville’s Hantzmon Wiebel say the market could always go back up as early as Tuesday.

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