FAIRFIELD - The Dow Industrial dropped more than 300 points Friday and the global markets plummeted, leading one Connecticut economist to believe investors are fearful of a global recession.
Michael Darda, chief economist at MKM Partners in Greenwich, says people are getting accustomed to the times. He says people feared they would see a total market crash but now their worries have turned to the global economy.
"The reality weeks and months ago was that the U.S. economy was really hitting the wall," says Darda. "Now, I think there's the fear that it's a synchronized global recession."
Darda says hopefully the problems are nearing an end, but adds that it will take some time for the economy to rebound. He says people should not panic.