Since the coronavirus scare escaped out of China into the rest of the world, financial markets have been shaken and stocks have had their worst week since the financial crisis of 2008.

Financial adviser Bob Seidenschwarz with S.G. Long Financial provided his perspective on Friday after a brutal week on Wall Street.

“This is an important test of our resolve and discipline,” said Seidenschwarz. “I want to tell people, yeah, it’s going to be OK, but in good conscience I have to say that we still have quite a bit of a runway in front of us, primarily because the virus, coupled with the economic implication is starting to reveal itself almost on a daily basis. I’m announcing earnings revisions starting to come out from various major global companies, and you can’t not pay attention to that. It’s right there. Right there in front of you.”

Since President Trump entered office, stocks have been on a meteoric trajectory.

Seidenschwarz said financial experts have been anticipating movement in the market.

“We have long held the belief that the market has been overvalued and stretched,” he said. “This has spurred that issue and brought in front and center, and we are seeing these earnings revisions and ultimately, profitability is how we make and decide valuations and whether they are fair or not. We’ve seen the exposure in the issues of the supply chain and this now has every appearance of lasting longer, and when you add the political uncertainty and the infighting that we’re seeing.”

Seidenschwarz said he did not want to use the word ‘panic’.

“People are getting worried,” he said. “You hear stories that people can’t find a surgical mask.”

Seidenschwarz then spoke to those who are invested in the stock market.

“Look and make sure of what you own,” he said. “If you have quality companies, hold on to them. This is not a time to be selling and running for the hills because we’ve seen time and time again that is not the best way to grow and protect your assets over the long term.”

On the other side of the panic, Seidenschwarz said there are opportunities for those who have been waiting patiently on the sidelines.

“This is the kid in the candy shop,” he said. “We’ve been waiting for an opportunity like this. There are great companies that are on sale. If you like Black Friday, then aside from the virus, you should really start looking at where these opportunities are. Always a good strategy is dollar cost averaging because it’s really hard to call the bottom. We’ve already seen about a 14 percent retrenchment and I must say that’s not unusual when you look at this historically. You add the virus on top of this and that’s when you get a little more angst.”

Seidenschwarz recommends that investors meet with their financial advisers personally to help make the wisest decisions for their portfolios.

“This is really an opportunity that’s being created right now,” he said. “One of the greatest investors that I follow is Warren Buffet, and he said this not a market to be selling because there are many opportunities. He is sitting on an awfully lot of cash right now. He’ll be looking for these opportunities, and so should you.”

As of 1:00 p.m. on Friday, the Dow Jones 30 Industrials stood at 25.097 , down another 670 points.