CONTACT: GEORGE McCRORY
100 Old Public Library
Iowa City IA 52242
(319) 384-0012; fax (319) 384-0024
Reporters and editors looking for commentary on the volatile U.S. stock
markets can contact the following University of Iowa experts:
Timothy Loughran, assistant professor of finance and an expert
on stock market trading, can be reached at (319) 335-0882.
Loughran noted that the Russian financial crisis is affecting stocks across
the board, including technology stocks that shouldn't be affected by foreign
markets. However, he cites recent volatility in the markets showing that
the Dow could stage a rally at any time.
William Albrecht, professor of economics and former commissioner
on the Commodities Futures Trading Commission, can reached at (319) 335-3125.
Albrecht says that an overall feeling of nervousness about the global markets
is helping drive stocks down. He cites continuing worries in not only the
Russian markets, but in Asian markets as well being reasons for investors
to be scared.
Albrecht also commented on the weaknesses of South American currencies.
He said Venezuela has some very serious problems, but there are no adverse
signs to make other South American countries currencies fall, other than
nervousness about global markets as a whole.
Lola Lopes, associate dean for undergraduate programs for the
College of Business Administration, can be reached at (319) 335-1037. She
is currently doing research on the psychological aspects of how people
evaluate risks under pressure. In light of the current turmoil on Wall
Street, she said that her research has shown that people might be looking
for the positive aspects.
"When there is a lot of focus on the worst happening, there is often
a shift where people have a goal of having something good happen and not
having personal losses get worse," she said. Lopes added that many
people with long-term investing goals might have the ability to ride out
the short-term risky market.