After the recent wild fluctuations in the Dow, many investors have lost faith in the market and the banks. Bank deposits have decreased an average of $500 million a day over the last 90 days. Meanwhile, the stock market has shed around $8 trillion in value. Try wrapping your head around those difficult numbers.
One thing is for sure, people are sick of losing money. In the current climate, many investors have given up trying to make their capital grow. They are solely focused on keeping it safe. As it turns out, spooked investors are taking the notion of “safe” literally.
SentrySafe, the nation’s top safe manufacturer, reported that sales have surged 50 percent in the past three weeks. Home Depot (HD) reported a big spike in the sales of safes and some stores are running low.
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