FOR IMMEDIATE RELEASE:
Nightly Business Report
CONTACT: Ed Tagliaferri/Stacy Fusaro/Lenore Moritz
Dan Klores Communications
NIGHTLY BUSINESS REPORT POLL SHOWS THAT WHILE INVESTORS FEEL
THE WORST IS YET TO COME, THEY EXPECT TO RECOUP MARKET LOSSES WITHIN
--Poll also indicates sentiment that the Federal Reserve did too
little, too late--
New York, New York March 28, 2001
A poll of American investors commissioned by public television's
Nightly Business Report indicates that 57% of small investors believe
that the stock market drop is not over. The poll also found that
small investors by a ratio of 7 to 1 feel less confident about the
stock market today than they did just three months ago. But 54 percent
of those same investors are optimistic that they will recover their
recent market losses by "sometime next year."
Further, nearly two-thirds of those polled believe the Federal
Reserve waited too long to lower rates and 65% believe that the
interest rate cut of ½ of 1% is not enough. However, 65.5%
do not believe that it is time for Alan Greenspan to step down even
though just over one quarter of those polled blame him for the current
stock market conditions. Most respondents (nearly 69%) feel that
investors rely too much on what the Fed does.
The poll results, which will be broadcast on Nightly Business Report
tonight (March 28), was conducted by America's Research Group. The
poll involved 1002 investors who were interviewed via telephone
between March 21-24, 2001. The poll's margin of error is (+/-) 4.3%.
Other findings from the poll include:
- Only about ¼ of investors have changed their investment
strategy in the last 3-4 months.
- Only 21.2% plan to reduce spending due to losses in the stock
market and 19.4% are cutting back on vacation plans.
- An overwhelming majority of investors (73%) are investing primarily
for retirement and correlating with that goal is the fact that
more than half (53%) do not expect to use money from investments
sooner than 11 years from now.
- Investors are not panicking - 58.2% are in a "wait and
see" attitude and 28.5% believe it is a good time to invest
in the stock market.
- Just over half of those polled say they will now rely more on
- When respondents were asked who is to blame for current stock
market conditions, they cited the following:
- President Clinton - 27.8%
- Alan Greenspan - 26.3%
- President Bush - 15.6%
- Wall Street - 14.9%
- Congress - 11.4%
Return to News Index