As goes the economy, so goes the State Fair
Friday, August 19, 2011
"There's a lot of bad news hitting the market at the same time. I think a lot of people are having a hard time processing it," said Dr. David Vang, a professor of finance at the University of St. Thomas.
Vang said Thursday's dip was due to several factors, including: nervous European banks dealing with their own region's debt crisis; new numbers suggesting more people are seeking unemployment benefits; and poor manufacturing results for the mid-Atlantic region.
But Vang urges people to sit tight and wait out this rough economic time.
"The best thing is to let it ride. If you try to unload stocks to go into something else right now, there's a good chance you might be putting your money into something that has no return right before the market goes up again," Vang said.
Originally published: 08/19/2011, KARE-TV