Rob Stein, senior portfolio manager at Astor Asset Management, worries that the stock market could remain depressed for months and hurt sales during the crucial holiday season. Still, he holds out hope.
Usually, "slowdowns based on market movements are temporary," Stein says. "Just like high oil prices, you get used to it."
A lot of investors aren't waiting to see what will happen in the stock market: They're shifting money from stocks to bonds in their 401(k) accounts.
On Monday, investors in the 4.7 million 401(k) monitored by consultant Aon Hewitt transferred $1.6 billion from stocks and into fixed-income investments.
On a typical day, investors move $300 million to $400 million.
Image: A trader works on the floor at the New York Stock Exchange.