Financial Advisor: ‘Hang in there and be patient’ amid new Chinese tariffs

Posted on May 13, 2019
With China retaliating with higher tariffs, IPI Wealth Management Financial Advisor Sean Craig wants investors to fight the storm. (Photo courtesy WJBC)

By Blake Haas

BLOOMINGTON – Despite the Dow dropping as much as 700 points on Monday, one Bloomington-Normal Financial Advisor wants investors to ‘hang in there and be patient.’

With China retaliating with higher tariffs, IPI Wealth Management Financial Advisor Sean Craig said the markets will be a roller coaster ride until both sides can reach a deal.

“It’s tough to say right now, because tariffs could have an effect on local earnings and farmer’s are going to be hurting,” added Craig. “There is just going to be a lot of things. Overall, if you are in it for the long-haul I would probably stay invested. Shorter-term will probably be up and down a little bit. It may be a little rocky in the short-term, but hopefully over the long-term the market always seems to come back.”

Craig added with new tariffs enforced on U.S. goods, farmers will be feeling the most of the trade dispute.

“New penalties also took aim at American farmers pushing down soybean and cotton prices.” said Craig. “That was the tariffs the Chinese retaliated (with), so their going to look at pushing down commodity prices.”

Blake Haas can be reached at [email protected].

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