It’s been a busy start to May. The stock market is experiencing one of its worst days of 2022 and the Federal Reserve raised interest rates by half a point, the largest increase since 2000.
Former Wall Street trader Lauren Simmons has seen her share of ups and downs in the market and has some tips for weathering the market turmoil.
In a volatile stock market, when there is a big drop on any given day with wide fluctuations in the value of your portfolio, many investors may feel compelled to sell. But Simmons cautions that investors should think twice before taking action they might regret.
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When Simmons was 22 years old, she became the youngest full-time stockbroker on Wall Street and the second African-American woman in that position in the history of the New York Stock Exchange.
Simmons has since left her job as a stock trader to focus on her entrepreneurial endeavors and hosting the “Going Public” podcast. “I’m taking what I’ve learned to help young people have intimate conversations about making smart financial decisions,” Simmons wrote for CNBC Make It.
Watch the video above to hear from Simmons and learn how best to respond to a downturn in the market.
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