Stock selloff no reason to panic

Wall Street and economy aren’t always a connect 

Hold off on the thinking that there’s a ton of panic after the big selloff of stocks Monday. 

At least, that’s the recommendation from Jim Naleid from Naleid and Associates in La Crosse, because a surge of selling on Wall Street doesn’t necessarily mean a generally healthy American economy has suddenly tanked. 

He says the underpinnings of the economy are sound and that overall health can be seen in decent economic growth, profits and jobs. Stagnation of wages is still a problem, Naleid added, but that should also work itself over time. 

He blames global market tumbles to troubles in China and a “herd mentality” of traders stampeding for the exits at the first sign of trouble.