The Market Is Melting Down and People Are Feeling It. ‘My Stomach Is Churning All Day’

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As stocks tumble, families are watching investments they meant for down payments, tuition or retirement shrink day by day. “I don’t want to go back to work at 66.”

Many are watching investments they meant for down payments, tuition or retirement shrink day after day

Craig Bartels, here with son Ben, moved most of his retirement-account savings into money-market funds in October.The last time Todd Jones heard this kind of panic in his clients’ voices, it was 2008 and the global financial system was on the brink of collapse. Mr. Jones, the chief investment officer at investment advisory firm Gratus Capital in Atlanta, now finds himself fielding similar calls. Two clients, both retirees, asked him this month to move their portfolios entirely to cash. Mr. Jones persuaded them to stay the course, saying the best way for investors to achieve their goals is to still be in the market when it eventually rebounds.

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