Stocks plunged on Monday amid fears about the U.S. economy potentially slipping into a recession, with major indices suffering their worst days in nearly two years and leaving some investors concerned about their portfolios and how they should respond to a market downturn. The Dow Jones Industrial Average tumbled 1,033.99 points, or 2.6%, while the Nasdaq Composite and S&P 500 fell 3.43% and 3%, respectively. The Dow and S&P closed out their worst day since September 2022.
Assaf noted that financial advisors may be able to help an investor take advantage of a down market, such as by taking losses on some of their investments to reduce future tax bills – or use lower share prices to convert to a Roth IRA at a lower tax cost.
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