Dropping stock prices worry investors
Syrian crisis, debt ceiling among concerns
SAN ANTONIO – A quick jump in gasoline prices is due to the volatile situation in Syria, according financial experts in San Antonio.
It is among several variables that are contributing to an unstable stock market, some say.
"We should be concerned because you've got a lot of geo-political risks about to occur with Syria, with our debt ceiling and with a change in the Fed chairman," said John Fosdick, vice president of Kercheville & Company.
Noting the unstable Middle East situation -- particularly in Syria -- he said, "If you get a huge disruption over there, where oil export gets disrupted, or if we get into a prolonged engagement once again ... the market hates uncertainty."
Fosdick suggests investors remain cautious.
"You have to be very, very careful with your bond exposure right now," he said. "It's getting a little bit scary. Bonds could be dropping."
His advice: sit tight.
"Keep maybe 10 (or) 20 percent cash on hand, and then if the market does makes a little bit more of a correction, 8 or 10 percent, then that's probably a good time for that cash to back to work in the market," Fosdick advised.
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