Local concern rising after stock market plunge
Mar 11, 2025, 5:14 AM
Traders work on the floor of the New York Stock Exchange (NYSE) on March 07, 2025 in New York City. (Photo: Spencer Platt, Getty Images)
(Photo: Spencer Platt, Getty Images)
The U.S. stock market saw a deeper sell-off on Monday as investors reacted to ongoing economic uncertainties, including trade policies and concerns over tariffs.
The S&P 500 fell 2.7%, bringing it nearly 9% below its all-time high from the previous month. At its lowest point, the index was down 3.6%, marking its worst single-day decline since 2022. That year, rising inflation fueled recession fears, though the economy ultimately avoided a downturn.
The Dow Jones Industrial Average dropped 890 points, or 2.1%, after recovering from an earlier loss of more than 1,100 points. Meanwhile, the Nasdaq composite slid 4%.
Although western Washington is on the other side of the country, locals are still watching what happens on Wall Street.
“My concern is that all of our retirement money is evaporating,” Lisa Kline said at Bellevue鈥檚 Downtown Park. “It鈥檚 a real big concern for all the Baby Boomers.”
“It affects my income in a way, long term,” said retired man Thaddeus Powell, of Bellevue. “If I can鈥檛 rely on the market, then I have to find something else to do. And, like I said, being (with a) disability, it鈥檚 pretty hard to get a job that way because I can鈥檛 work eight hours a day.”
Those issues came into sharp relief after the stock market had its worst day so far in 2025. Dropping nearly 1,200 points before rebounding slightly to end the day down nearly 900 points.
Dana Grigg, a Seattle-based investment advisor, said people should be concerned about a possible rocky road ahead.
“So, yes,” Grigg said. “The road could be rocky, but always remember, that鈥檚 why we get excess returns as investors because we鈥檙e willing to weather those storms.”
That seemed to be of little comfort here.
“I think we have, it is what it is, you know,” Bellevue man Scott Penner said. “I just wonder how long people are going to put up with it?”
It likely won鈥檛 be long before we begin to get those answers.
The stock market opens for business again Tuesday morning.
