NORTHAMPTON — The stock market has had a tumultuous week with developments in President Donald Trump’s global trade war rolling in one after another. As economic instability persists, financial experts are advising Valley residents not to make any hasty decisions with their money.

Stocks recovered some ground on Wednesday after Trump announced a 90-day pause on tariffs for most nations, but the situation remains shaky. Negotiations are ongoing, and tariffs on Chinese goods were not paused, now totaling 145%. As investors try to determine Trump’s next moves and whether a recession is imminent, stocks continue to swing by the hour.

Amid this rapid change of highs and lows, local financial advisors suggest “staying the course,” and avoiding monetary decisions based in fear.

“A lot of people are alarmed,” said Nick Cantrell, president of Green Future Wealth Management in Northampton. “The chaotic nature of the tariffs and the volatility really have a lot of people concerned about whether they will be able to retire in the way that they had planned to.”

Cantrell’s clients have been reaching out in the past weeks with their worries. Most have raised concerns about some of life’s biggest financial decisions — like retirement and college — wondering how current economic fluctuations will impact them.

But Cantrell noted that market instability is “not happening in a vacuum.” Adding to people’s anxiety are concerns about Social Security, VA benefits and more.

What he hopes to impart on clients as unpredictability abounds is that having a clear set of goals — and a plan for how to reach them — is only becoming more important. He noted that poor financial decision making is common during market volatility. When people get scared by fluctuations in the economy, they become more likely to make hasty sales into a declining market.

For now, Cantrell said the country hasn’t yet reached the levels of financial insecurity characteristic of the Great Recession in 2008. Taking a “long-term view” by sticking to a personal plan might be the best way to avoid detrimental decisions and stay on track.

At Curran and Keegan Financial in Hadley, clients have been receiving similar advice.

“Generally during times like these, the guidance is to stay the course,” said Molly Keegan, a financial advisor at the company.

Keegan cautioned that times of volatility are “probably not the best time to be making significant decisions.” Instead, she recommends keeping some emergency reserves and cash on hand to help weather the financial storm.

From the White Houseto the consumer

Most finance-savvy people were expecting Trump to raise tariffs. It’s a tactic he mentioned on the campaign trail, and he has consistently raised concerns about the country’s hefty debt.

“It’s not without any merit,” said Hossein Kazemi, director of the Center for International Securities and Derivatives Markets at the University of Massachusetts Amherst. “We’ve been running a huge deficit, which exposes us to some risk in the future.”

What has caught investors and businesses off guard, Kazemi said, has been the scale of the tariffs. Kazemi estimated that many people in the U.S. likely prepared for tariffs of about 10% globally. During the current 90-day pause, tariffs on most countries besides China have been lowered to that 10% level. But before the pause, the tariffs were much higher, resting around 20-25% for countries ranging from the European Union to South Korea.

While those numbers have been brought down for now, Kazemi noted that “a 10% tariff is not nothing.” Additionally, the high tariffs placed on China will still be felt by U.S. consumers. Importers or exporters may choose to absorb some of the taxes, but shoppers are likely to notice price differences for goods like clothing and electronics.

For many basic items that come from China, like T-shirts, Kazemi said that people will probably be able to find cheaper alternatives. But for certain electronic goods and pharmaceutical ingredients, substitutes will be harder to find.

“If you’re in the market for an iPhone, that’s going to go up significantly,” Kazemi predicted.

Stock shock

Kazemi said that stock market volatility might have been avoided if the Trump administration had started off with 10% tariffs, moving into negotiations from there. Though most countries are now facing 10% tariffs while 90 days of negotiations begin, the initially higher taxes caused many hasty stock sales.

“A lot of people panicked and sold, and they’re not going to recover those losses even though the market is up today,” Kazemi said on Wednesday.

For most consumers facing these fluctuations, Kazemi’s advice is largely the same as that of financial advisors: “stay the course.”

Among those planning to retire in five years or less, Kazemi recommended leaning into a diversified portfolio. This means ensuring cash is on hand and in safe bonds rather than solely in the market, which is risky.

If retirement is 10 or more years away, Kazemi said there’s “no point in panicking.”

Regardless of an individual’s financial situation, Kazemi emphasized that now is not the time for risk or heavy reliance on the stock market.

“You’re going to have up days and you’re going to have down days,” he said. “If that’s taking an emotional toll on you, that means you’re too invested in the market.”

Moving forward, Kazemi said consumers can expect continued volatility. With choppy financial waters on the horizon, hurried decisions aren’t advisable — but maybe upgrade that cellphone before prices climb.

Alexa Lewis can be reached at alewis@gazettenet.com.