finals right here on abc 7 tonight the warriors playoff run has been thrilling for dub nation, and it's also paved the way for the team to have a bigger platform to lead on important issues including gun control. the team's vice president of government and community relations will be here in about 20 minutes to talk about that. of course, the game is going to be on our coverage in two hours and 23 minutes 29 minutes as you can see on the clock. also notre dame didn't a mirror

university in belmont has become the first west coast university to house afghan refugees. the campus will become home to dozens of refugees later this month and the university's president will join us in about 10 minutes. but first it was a rough start to the week for the stock market the dowd tumbled today plunging into bear market territory. here's a look at the closing numbers for you if you dare the dow sank 876 points that is right the nasdaq down 4.7% following more than 10% in the past two trading sessions and the s&p 500 fell nearly four percent that index is more than 20% below it's all time high set in january. so joining us now to explain the numbers and what that means for people like you and me is a certified financial planner based in alameda, sam gaeta sam. nice have you here. hey, thanks for having me on.

all right, so those numbers. big and scary so are those percentages but how big of a drop is this? well, it's pretty big. you know anytime. we have a fair market from peak to valley over 20% decline in an index, which is where the s&p 500 ended today. you know, it makes it makes a big difference right? i mean essentially it's i mean essentially it's we're saying that equity valuation stock valuations are declined by 20% in that index and it's something to be thinking about and it's it's for historically speaking. we don't see it very often so it's something that makes the headlines for sure. yeah, you know i the biggest thing and i think why the market sold off so abruptly on friday and today is really around inflation data that came out on friday as well as the federal

reserve, right? what is the federal reserve going to be doing as far as managing inflation here in the future and we really like to make decisions knowing what policy is coming down the pipeline and anytime there's a chance that monitorials to your school policy can be changing that usually creates some uncertainty. we're seeing that happening today and i think the reason primarily while we're seeing market sell-off so aggressively, okay. so scary for a lot of investors, especially like you said you had a thousand dollars in apple stock yesterday, and now you have 800 and you're thinking gosh how much more can i stomach so give us some tips during uncertain finding times like these right? you're you're sam's three biggest tips to to be smart and not lose your times like these. yeah, this is where our emotions really come into play is when we see these major drops. so number one. this isn't actually a great opportunity.

we're seeing equity valuations declining right some by 20 30 40 percent year-to-date. that means you can buy them at that sizeable discount, which is a great opportunity. it's kind of like a booster rocket to your 401k plan or ira if you have sitting on the sidelines. it's a great time to invest you know, and i think the most important thing and what we what we do primarily at defined financial planning is help people not make emotional decisions, right? we want to look at the math we want to use your investments as tools for some future economic benefit and if we can stay focused on utilizing those tools deploying your capital correctly, it kind of avoids having these emotional decision-making procedures that we see a lot of people right, but you know essentially selling selling low and buying high which is the opposite of what we want to be doing right now, right? i mean there is that urge right that panic like i better unload before it gets even lower, but let's talk about that because there's risk involved so i know it's not one size fits all

because you know based on your risk factor your age how close you're to retirement and how much more capital you have. i assume the decisions are going to be different. so give us some typical profiles and what you would do. if you were this person or that person yeah, i'll give you two profiles one. is is the working person who has a long way 10 plus years until retirement. this is a opportune time to be maxing out your retirement contributions if you have access to a 401k plan, this would be a great time to do to max out your deferrals make contributions now right if you can buy into the market low, it can really drive your results for the future and i think you know look if you're stability. if your job stability is high. well then this is a great idea, you know time to deploy cash to deploy capital if you have some concerns about the outlook of your career. well, then you want to be conscious of making sure that you have the appropriate amount of savings in place not investing your short-term cash

reserves second profile. i would say is the person who's getting close to retirement, right? i would say that some people especially coming into our office lately are saying hey do i still have am i still on track for retirement? you know, i might be retiring six months am i going to make it and and this is where it really really becomes this important factor where i think it's kind of like this misnomer where you're gonna take all of your 401k out at one time right when you retire you don't take every dollar out of the market you you take a withdrawal rate and that would draw rate needs to be sustainable. and this is where we need to do some math. we need to run some stimulations. we need to look at how much income need you're going to be withdrawing from your 401k plan or fireman accounts when you do decide to throw in the towel and retire and that's where we run these simulations, you know that the nice thing about this particular scenario is it's not uncommon. i mean recessions are you know, not a an annual occurrence, but they're certainly they've happened in the past and we know

they happen we know that they're within a certain band, right? we know that the market's going to sell off a certain amount. so as long as we plan for something like that we still get really really high probability of success. so it's not something to be so concerned about you're you're not going to be able to retire because you're retiring when a when there's a down market or a bear market, okay. well my money maybe you want to move some avett into different types of investments, or maybe you have a little cash are there certain sectors that are better than others in this type of market like for example are the traditionally safer ones like real estate or gold or bonds, or are those better right now or would you say? nope? actually, you know, maybe tech maybe retail. yeah, yeah if you want to insulate your portfolio from the volatility, the higher quality assets are certainly going to perform better in bear markets right companies like consumer staples where everybody needs to buy these things regardless of whether or not we're in a recession or we're in economic

growth periods things like real estate and gold like you mentioned are assets that have historically perform better in their market. so those are smart allocations right here. here's the a bunch of eggs and a bunch of different baskets, right? we want to make sure we're diversified so we have access to draw from if you need them, especially as you're getting closer to retirement now the biggest opportunity right where we've seen the most sell-off is definitely in the technology sector the nasdaq's down over 30% year to date which gives a great opportunity to buy some of these big names these big technology names at a very very big discount. so if you have a longer time horizon, right and you can absorb some of the vol. a those are good investments if you have a shorter time horizon, and we need to make sure the portfolio isn't drawing down too much because we need to use that capital sooner. well, then we want to move to higher quality asset classes less speculation, you know really strong companies with strong balance sheets or tangible assets like real estate or goal. so, how do you v-day on twitter.

is that a wise play or not? yeah crypto in particular is a tough one because there is this this argument early on especially with bitcoin that it was gonna be like a gold right it was gonna be something that holds its value especially in times of volatility. so in high inflation periods, it should perform like gold. well, we're not seeing that right we're seeing bitcoin and the really the top cryptocurrencies behaving more like a technology stock. so it really depends on its use value. it's still really hard to identify crypto's roles and particular coins or strategies that are going to to really drive some sort of economic value and i think that makes it a very speculative place still and something you want to consider when you're thinking about hey, am i going to need this money for something in the future? i'm more of the kind of person who wants to identify something with a high probab.

your success something that we know works because then we can get a better idea of what the results are going to be in the future. and that's really at the end of the what these are all about. it's it's, you know, creating some value outside of just money in the future for you. all right, sam gaeta. thank you so much for giving us some strategies during nerve-racking financial times that like these right now really appreciate your time and insight. of course. thanks for having me on. coming up next a bay area university launches a pilot program to welcome afghan refugees more on that when getting answers comes back after

three two one belmont's notre dame denimura university is making history. it's becoming the first west coast university to house afghan refugees pilot program will

welcome up to 36 refugees to the bay area later this month joining us live now to talk about this is the president of notre dame de muir beth martin. thank you so much for joining us beth. oh waiting. there you go your audio. is there excellent look congratulations on being the first west coast university to house refugees. how did this come about? it's part of a national program, right? it we are part of a national program called ecar every campus or refuge and we're hoping to model this for other institutions, especially on the west coast since we're the first we have we are having. afghan family is being placed on campus through the international rescue committee. and an office in san jose and oakland are sending those families to us and we have four of them at the moment. it sounds like more coming, right? can you tell us what their profiles are are these

individuals who had worked with the us closely? these are individuals who worked with the us government and are in danger if they remain in their own country, so we are delighted to be able to offer them sanctuary. this program is an expression of ndnu's values in action. so we're very honored to be able to help this families out to provide some comfortable housing for them while they resettle and it's an honor for us and the town. i'm just curious where they might have been since of last summer when us troops pulled out of the country like did they just recently get out of the country or had they been here for a while but just elsewhere? most of them have been here for a while elsewhere on military bases where they all of them have been. checked out physically, they've been background checked and they are they undergone more betting

than than most people ever do and now they're ready to have a in a brief placement before we can help find them permanent placements in the us. i understand it's meant to be a three-month thing. so and when they arrive on your campus, will they be living in dorms and our dorms suitable for you know, perhaps families as you mentioned. we are lucky and that we have already. what used to be meant for graduate students? we have full apartments on campus so they have complete kitchens and bedrooms and bathrooms. so that's for the families will stay not in a normal not in a normal not the bunk beds for two roommates. who are you besides housing what other resources will you be offering them through the program? well, you know, it's amazing the irc and ecar provides so many resources they we have furniture of course and housing for them,

but they brought provide them with bedding. they provide them with food resources social worker case worker, but i have to say this random community has already reached out saying, how can we help we'll help in any way we can so in terms of resources. i think we're going to be pretty well said even our local neighbors our town. mayor our local police chief everybody's reached out and said look, please let us know whatever way we can help. alright, so we're i think over over time we'll learn more. that's great. it's great to see the outpouring of support from the community. where will they eventually be transitioned to that is after they leave you. right the irc helps them find work papers and many of them resettled when they're in california. they resettle to fremont or conquered wherever it is. they can find a job that fits with their skill set. got it. look there are job opportunities here, but kind of surprised the

operation allies welcome initiative chose to partner with notre dame given that you're here in the bay area and as we know the cost of living is so high here. so while that may not be an issue in the 90 days that they're with you. what about afterward in terms of how they might be able to start a new life here, you know, do you know if financial support continues for a while? well, i do know that there are several communities in the bay area. especially fremont. there is a very large population of very well settled afghan immigrants and and they're very welcoming to the new folks arriving and apparently from what i understand from the irc in oakland, but concord and a little further north. there are also communities that are a little more affordable than our peninsula for example that are also very welcoming. all right in last question for you, is this a one-time thing this month or do you expect there will be more waves coming to you at to notre dame. oh, i do expect there will be

more waves. we are doing this as we mentioned as a pilot, but it seems to be so we seem to be so successful so far and then the brief time we've done it we'd like to continue to do it if we possibly can. these are folks who are here 60 to 90 days and then new folks commend. so we have of course like everybody limited number of apartments, but we'd like to be able those that we can use for that purpose to serve those books. we have served us. like to give back. beth martin president of notre dame denimura in belmont. thank you so very much for your time today. congratulations on the program. good luck. thank you very much. thank you coming up next. we'll talk about all thing dub nation and what the warriors playoff run is doing for the community stay with us.

three one dab nation is pumped for game five at the nba finals airing right here on abc 7 tonight the abc7 warriors countdown clock shows. we are two hours and nine minutes away from the start of

abc's coverage. we've gotten so used to the warriors reaching the championship series, right? but while the competition is thrilling for fans, it's also providing a different kind of benefit for the community as well and giving the team a chance. lead on important issues joining us now is yo-yo chan the vice gnmprtt aenid community relations for the warriors yo-yo. go warriors. i bet you're a super psyched. go doves, i can't believe we're finally here. i know all right, two more. we got this look fans love the warriors getting into the finals for obvious reasons, but you're thankful for less obvious, but equally important reason increased visibility and expanded platform to make a difference explain that to us. well, you know what we do on the court is so important for the warriors, but it's even more important about what we're doing off the court and that's been really really tremendous in that we are now in the finals and we get even a greater opportunity to showcase and commit to what we do in the community across

the bay area in san francisco and oakland and for all of the folks we serve here in the bay area. let's talk some of those and break them down one. i know the mba has a finals legacy project which enables the teams that get into the finals to do something really fabulous in the community. tell us what the warriors chose to do this year. yes, that's right. so the two finals teams that make it into the nba finals. obviously. we're one of them this year and we've had the great opportunity to do so for the last couple of years to do a large capital improvement project in the community that we serve. so this year we actually worked with number of folks on the ground and made a significant improvement to the boys and girls club of columbia park in the mission district right here just a few minutes away from chase center. we updated the middle school room. ton of new furniture and completely redid the spaces that youth are going to be using all throughout the summer and you

know for us it's really about the legacy that we're creating here in san francisco with our new home here in chase center, but really creating a long-lasting place for young people and the community to really thrive and play here in san francisco. it's a gorgeous facility and the message ascends to the kids is incredible. you are important right fabulous community. facility. also i want to talk about for the community thrive city. i know you do fanfest. how is that important? well, you know chase centers obviously a very important part of who we are but it's even more important that we're sharing this with the public and with the community. i mean here you can see a shot of a watch party of thrives thrive city and when we built this arena one of the main components for us was really creating a community space and a community gathering place here at thrive city, which is the plaza just right side right outside of chase center as you can see here thousands of people gathering free of charge to the

warriors game while we're on the road and even at home. so again, this is really about bringing people together making sure that we were celebrating for the community and making sure it's free of charge for the public. so really encourage folks to come down here to chase center and to thrive city to watch some of the remaining games. hopefully just one more game on the road here. but again thrive city is a huge huge element of what we're bringing to the public and to the broader community here indeed the long playoff friend also gives coach steve curve in particular but really the rest of the team. to take part in a very important conversation in recent days. we've heard him talk about gun violence tell us what he's been able to do with this platform. absolutely, so, you know the fact that we have the finals here gives us even a greater platform and more visibility to bring light to issues that we often wouldn't be able to talk about if we were in the offseason and as you've

mentioned the awareness to gun violence awareness has been huge for obviously for coach kerr and his commitment to the issue, but also making sure that's trickled down with our front office. our leadership is very very much committed to making sure we address this issue. terms sustainable way we were able to have our coaching staff and some of our players actually dressed in orange and awareness of gun violence awareness day on june 3rd. just a couple of days ago really bringing that to not only the local spotlight, but think about the eyeballs that are going to be on on the national screen there. so, you know the fact that we have these games and we're able to continue our season gives us just a bigger platform to really bring awareness to issues that are important for us here. a warriors and this is definitely top of mind for us and continue to be working with coach to make sure we're addressing this on the ground with the groups that are really doing the field work here both in san francisco and oakland. then he franchises that do not

go anywhere near issues that are remotely controversial or political. that is not the warrior's or approach why? well, we do what's right, you know, i think we obviously take the lead of our coaching staff and our players on a lot of these important issues but for us, this is really about speaking up on something that we feel like is the thing to do and i don't think it goes any beyond that. all right, we're almost out of time, but very important got asked you for some predictions for tonight. steph scored 43 points incredible in boston in the last game. what do you think will happen tonight? well, i am hoping we only have one more game and we close this out on the road in game six, but we got to get through tonight first. right, so i noticed you're not putting down predictions for how many points or what the final score you're like, that's not my area but somebody else it's not my area of expertise. i just got to get to the finish

here. all right. well yoyo chan. congratulations on all that the warriors are doing for the community best of luck tonight. don't forget everybody. abc 7 is the only place to watch the warriors and the nba finals our coverage starts at five o'clock tonight with the dubs on seven pregame. then it's mba countdown at 5:30, which you see on our countdown clock is just about two hours away or two hours and two minutes to be precise game five tip-off is at 6pm and keep it here on abc 7 for after the game live interviews and post game analysis with larry bill o'donnell foil and carrie keating right here on abc 7

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are dump nation countdown club shows just about two hours. until network coverage then keep it tonight, the breaking news. the gunman at a summer camp for children reportedly shooting into a classroom with kids. then making his way to the gymnasium. also tonight, the eye-opening testimony before the american people from inside the trump white house. the night of the election and the weeks that followed, the false claims. top trump campaign officials also ivanka trump, jared kushner, you will hear their testimony tonight. how insiders tried to convince the president not to declare victory on election night. and who later tried to convince him on the truth, that he'd lost the election. and what the former president did instead. testimony that rudy jugiuliani showed up at the white house election night intoxicated. his attorney denying that. and the attorney general bill barr who says he became demoralized in 2 weeks after the