Desperate times don’t always call for desperate measures.
That was the thinking many LIBN readers had when asked how they reacted to the stock market’s recent turbulence. In response to the question, “How did you react to recent volatility in the stock market?” an overwhelming majority of respondents, 60 percent to be exact, said that they simply decided to “ride out the storm.” Another 10 percent of respondents said that they trusted their stock broker handle the fallout from the rough week.
Unstable stock markets became front page news after the Dow Jones plummeted a staggering 1,175 points on Feb. 5, sending Wall Street, and stock holders all over the country, into a frenzy. The Dow hovered around 25,219 points midday Monday – more than 1,000 points away from its Jan. 26 high of 26,616.
About 7 percent of LIBN poll respondents said they were alarmed enough to move some money around, responding, “I rearranged some of my investments.” And 2 percent said they “pulled their money out of the market,” and that they “weren’t taking any chances.”
Yet a significant portion of voters weren’t affected by the falling markets. A full 20 percent of voters suggested they didn’t invest in Wall Street, responding, “Who has money to invest in the stock market?” That was the second-most popular response, behind those who decided to ride out the storm.
LIBN conducts weekly informal, unscientific polls of readers on LIBN.com. The stock market poll was open from Feb. 14 to Jan 21. Click here to cast your vote in LIBN’s latest poll: “What is your favorite Winter Olympic sport?”
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