Locals Concerned By Struggling Stock Market

October 10, 2008 8:04:13 PM PDT
At diners and dinner tables alike most conversations revolve around the economy. Roy Hallterman of Fresno said "Quite frankly that's why I came out here to Chandler Airport today to have lunch and take a break, just kind of get away from the anxiety."Hallterman and Bill Wendt wish they could order up some stability for the stock market. Wendt refuses to check stock prices or even his 401-k plan. Wendt explained "I can't control it so all I can do is panic over it myself and I don't want to do that. I have a number of years left so I'm just gonna ride it out and hope that it stabilizes."

Hallterman retired from AT&T after thirty years but has since taken another job. He said "We keep moving about. We're going about our daily lives and our jobs but we really don't know. It's like another track running in the back of your mind if at some point our jobs will be affected."

Financial Advisor Sandy Brown said all sectors of the stock market have taken a beating. Brown said "There's nowhere to hide. You look at certain stocks that aren't affected, well everybody's affected in regard to this credit crunch, but the momentum of the market is just dragging everything down."

Brown says ultimately the stock market will rebound but he knows not everyone has the patience to wait it out. "If your ultimate objective is five years or more out then this is just one of those things you have to ride out. If it's less than five years I can definitely understand where someone would say I want to get out and I want to stop to bleeding right now."

Bill Wendt is confident the market will rebound. Wendt said "If everyone panics and tries to sell off all their stocks and the drop is gonna be severe, the impact great then we have a long climb back."

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