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Stocks are falling, here's what a former Wall Street trader is doing

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Advice for new investors when the market dips

It's been a busy start to May. The stock market is having one of its worst days of 2022, and the Federal Reserve raised interest rates half a point, the largest increase since 2000.

Former Wall Street trader Lauren Simmons has seen her share of ups and downs in the market and has some tips to weather market turbulence.

In a volatile stock market, when there's a large dip on any given day with wide fluctuations in your portfolio value, many investors may feel compelled to sell. But Simmons cautions that investors should think twice before taking an action that they may come to regret.

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When Simmons was 22 years old, she became the youngest full-time female trader on Wall Street, and the second African American woman in that role in New York Stock Exchange history.

Simmons has since left her job as an equities trader to focus on her entrepreneurial endeavors and to host the podcast, "Going Public." "I'm taking what I learned to help young people have intimate conversations about how to make smart financial decisions," Simmons wrote for CNBC Make It.

Watch the video above to hear from Simmons — and learn how best to respond to a dip in the market.

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