Financial adviser explains how UK vote affects U.S. economy - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Financial adviser explains how UK vote affects U.S. economy

(Source: KFVS) (Source: KFVS)
CAPE GIRARDEAU, MO (KFVS) -

As the opening bell rang, millions of investors woke up to see the stock market down hundreds of points.

This downfall comes from a decision by British voters to leave the European Union, a risky decision financial advisers weren’t expecting.

Stan Irwin works for Edward Jones.

“That was a shocker today," Irwin said. "The headlines yesterday really thought yesterday the market was up thinking that the vote would go for them to stay in the EU, of course we woke up and it went the other way.”

Irwin said though this may seem like a time to take your money and run, you may want to rethink that.

“When these opportunity are in front of you," he said. "Some people go stick their head in the sand and try to avoid them, well you should embrace them and let that take advantage of your portfolio.”

Instead, Irwin advised that a great time to buy more stocks and bonds is while the market is low.

Irwin said over the next few months you may see a decrease in the cost to travel to the UK, but you may want to hold off buying Pounds and Euros.

“I don’t know by buying them now," Irwin said. "But I’ll tell you what our dollar is going to strength which means the dollar is going to go further overseas, so as you travel, travel overseas should go less expensive and your dollar should go further.”

The DOW closed 600 points below, the lowest in the last 10 months.

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