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Over three days the Dow Jones Industrial Average lost more than 9 percent of its value. It's not the sharp drop of a crash -- in 1987, the Dow dropped 22 percent of its value in one day.
But the latest volatility has more than just traders worried. And once people give in to worrry, they stop buying; businesses stop hiring; and before you know it, the problems are compounded and the markets reflect even bigger drops.
Even if the Fed steps in, the markets seem spooked. But a lot hinges on what people away from Wall Street are doing. Here are some ideas to localize the story:
Businesses: Are businesspeople in your town concerned about the national picture? Will that translate into different behavior? For example, will they hold off on hiring? Are retailers worried that shoppers won't spend money? Are people who sell big-ticket items, such as homes and cars, concerned that consumers will hold off on those purchases?
Consumers: Run a poll on your website asking how people in your town are reacting to the fluctuating markets or the downgrade of the U.S. debt. Or go to car dealers to see if anyone is shopping around for a new car. Ask if they will hold off on a big purchase or if they aren't too concerned with the national mood.
Over three days the Dow Jones Industrial Average lost more than 9 percent of its value. It's not the sharp drop of a crash -- in 1987, the Dow dropped 22 percent of its value in one day.
But the latest volatility has more than just traders worried. And once people give in to worrry, they stop buying; businesses stop hiring; and before you know it, the problems are compounded and the markets reflect even bigger drops.
Even if the Fed steps in, the markets seem spooked. But a lot hinges on what people away from Wall Street are doing. Here are some ideas to localize the story:
Businesses: Are businesspeople in your town concerned about the national picture? Will that translate into different behavior? For example, will they hold off on hiring? Are retailers worried that shoppers won't spend money? Are people who sell big-ticket items, such as homes and cars, concerned that consumers will hold off on those purchases?
Consumers: Run a poll on your website asking how people in your town are reacting to the fluctuating markets or the downgrade of the U.S. debt. Or go to car dealers to see if anyone is shopping around for a new car. Ask if they will hold off on a big purchase or if they aren't too concerned with the national mood.
