Stock market’s rough ride has locals nervous

By Mickey Winfield, Freedom New Mexico

The Dow Jones industrial average closed Monday at 11,350, marking the worst June for the market since the Great Depression of the 1930’s and it’s lowest point since Sept. 2006.

In addition to the current condition of the market, the price of oil hit another record high at mid-day Monday at over $143 per barrel, before slipping a bit to close at $140 per barrel — for comparison, at this time last year, the price of oil was just over $59 per barrel.

According to a couple of local money experts, effects of the market highs and lows reach into every corner of the country — including Roosevelt and Curry Counties.

“It particularly hurts the people that are getting ready for retirement, or the ones that are expecting their investment portfolio to be there for the rest of their life,” Portales National Bank president David Stone said.

Stone cited the current energy crisis, including the record prices of gasoline and crude oil as one reason why the market has gone south.

Bob Waters. a financial advisor for Edward Jones in Clovis, says that during troubling economic times,