Economic Tensions Felt in Brazos Valley

By: Kristen Ross Email
By: Kristen Ross Email

There's growing investor uncertainty, in a volatile stock market that's experiencing ups and downs.

"I didn't even have nerve enough to look yesterday with where it was standing because maybe there's nothing there," one Bryan resident said.

Monday the Dow dropped a record 777 points, the largest single day drop ever.

That dubious milestone has upped anxieties across the nation and here at home, leaving some questioning how long they should hold on.

John Antoine enjoys spending time outdoors with his two young grandchildren, but Tuesday afternoon's gathering is anything but a normal walk in the park.

"There are two institutions at the center of this crisis," a radio talk show host said on Antoine's portable radio.

Antoine's been keeping a close ear on how the economy is fairing.

"I'm really concerned what's going to happen now," John Antoine said.

He says he's not only concerned for himself, but also for the future of his grandchildren.

That's because times are uncertain...

"I don't think anyone really knows how this affects the world money market, or local banks," Antoine said. "We're talking about if there's no more money to lend people, you can't get a car, or house, this could be a real disaster if the money really is going to be that short."

"The market doesn't like uncertainty," Edward Jones Financial Advisor William Talbert said.

Talbert's office has been fielding phone calls right and left.

"There's a lot of people a little bit concerned with the recent volatility of the stock market, but it's important to remind them of their long term goals and to buy and hold good high quality investments," Talbert said.

Talbert says he's reminding clients that these uncertain times in the stock market are actually pretty normal and occur regularly.

He's telling people now is a good time to invest long-term.

"You go to Wal-Mart and see an outfit you want for 20 percent off, you're not going to run the other way, you're going to be excited," Talbert said. "Well the market's 20 percent off right now, and it's a great opportunity to put your money to work."

Which is exactly what John Antoine plans to do.

"Maybe some reinvesting," Antoine said.

He's prepared to face uncertainty head on.

"When I was born I remember the effects of the Depression and all the ups and downs since then, I've seen it always comes back," Antoine said.

Talbert is advising clients to diversify between stocks and bonds. He also suggests having some treasury bonds, corporate bonds, and some fixed income investments, and some good high quality investments as well.

The Dow closed Tuesday up 485 points.

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