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PNS Daily Newscast - November 25, 2020 


Feeding hungry families, on Thanksgiving and beyond; and is that turkey really from a family farm? (Note to Broadcasters: The newscast has been granted a holiday for Thanksgiving, but we'll return first thing Friday.)


2020Talks - November 25, 2020 


CORRECTED 2:30pm MST 11/25 - Linda Thomas-Greenfield would be the second Black woman in US UN Ambassador role, Susan Rice was the first. Biden nominees speak; how can social media spread less misinformation and be less polarizing. *2020Talks will not be released 11/26 & 11/27*

Iowa Economist: U.S. Stock Selloff No Cause for Alarm

Despite the U.S. stock market selloff this week, one economist says investors should not overreact. (lisasolonynko/morguefile)
Despite the U.S. stock market selloff this week, one economist says investors should not overreact. (lisasolonynko/morguefile)
January 8, 2016

AMES, Iowa - The U.S. stock market has taken a tumble of 5 percent in the first four days of trading this year, but one local economist says this is no time for investors to panic.

According to economist David Swenson at Iowa State University, this week's U.S. stock selloff is the result of uncertainty and instability in the Chinese stock market. He said it has ripple effects in European, Asian and American markets.

"The degree to which the U.S. stocks are exposed to Chinese stocks is really quite uncertain," he said. "This is more of a reflexive, self-defensive move, as opposed to 'we're somehow hurting.' "

Swenson said he thinks it's a bad idea for most investors to take any action based on what has happened this week.

"Normally, what anybody is going to say is, 'Just don't look at your accounts. Just simply stay away. Let this thing work itself out.' The market will find its way back up to where it's supposed to be," he said. "Don't do anything foolish right now."

He said the market reacts to understandings of risk and certainty. The Chinese situation has injected a great deal of uncertainty, and given rise to speculation about manufacturing and commodity production there.

Swenson admitted that even if this becomes a sustained slump, there's not a lot an individual investor can do unless it becomes a full-blown recession.

"Where do you move your money once it's already gone down quite a bit," he asked, "other than to pull it out and hold it under your mattress, or to park it in a money market or something like that?"

In case of a prolonged downturn, he said, an investor might consider moving holdings from stocks to bonds.

Jeff Stein, Public News Service - IA