Despite global markets reeling Thursday from the biggest one-day points decline on Wall Street since the 2008 financial crisis, local financial advisers say now is a time to buy.

Randy Kramer, a certified financial planner with Davis, Thoen, Kramer & Associates of Ameriprise Financial in Austin, said the tumble can be beneficial, especially to younger investors.

“They could potentially use this as an advantage to become a little bit more aggressive,” Kramer said. “It’s a buying opportunity, buying more at these low levels could turn out to be a very wise move.”

For someone close to retirement, Kramer suggests sitting tight.

“If they’re fully invested now, they might not want to do anything,” he said. “Avoid the urge to sell. This is not a time to be bailing from the stock market.”

Jeremiah Johnson, a financial adviser with Edward Jones in Austin, agrees, adding that investors near retirement certainly don’t want to sell.

“Meet with a professional and map out your future plan,” he said. “Some may want to reposition, depending where they’re at, but when you sell, you guarantee a loss.”

Kramer attributes the market crash to a lack of economic growth, the recent debt ceiling debate in Washington and poor consumer confidence.

“This is effecting everybody’s portfolio and is causing a lot of uncertainty,” Kramer said. “Resist the urge to make a knee-jerk reaction. People shouldn’t be making a lot of sudden moves just because of what happened over the last couple days.”

Johnson said the 2008 crash was different, because that combined a severe recession with a financial crisis.

“I understand the worries,” he said. “But this is not the same. … Oil prices are lower, providing some relief, and companies are much stronger financially than they were in 2008.”

Kramer said the key is to avoid becoming emotional.

“Sure, it’s a concern for everyone when you see the value of your investments fluctuate,” he said. “The wise thing is if you are already fully invested, just hold still.”