On Friday,the Dow lost 128 points. It was up as high as 300 points, and down nearly 800 earlier in the day.
The phones were ringing off the hook at local financial companies as people looked for guidance in this volatile market.
Local financial analysts said clients are facing a lot of pain, but they said investors need to realize that the pain will be short lived.
Brian Koble from Heffron Tillotson has been fielding endless questions from local investors.
Koble said, “What we tell people to do is have cash and bonds on hand for your short-term and intermediate-term needs. If you have long-term needs beyond five years, you can put that money into equities at a reasonable assurance that after five years the market will be higher than it is today.”
Kobel said the biggest problem is that we’re stuck right now between the time the federal bailout was approved and when it will take effect.