Permanent Fund takes a bit hit as stocks tumble

The stock market plunge on Monday, followed by another 450-point drop today, has Wall Street investors nervous about the possibility of other financial giants toppling. Many Americans feel disconnected from the roller coaster investment ride because they don’t own stocks directly, but all Alaskans are stock holders through the Permanent Fund. Fund CEO Michael Burns says Monday was probably the Fund’s largest one-day dollar loss. He says fluctuations both in the market and the federal government’s approach to it have varied greatly.

Lori Townsend, ARPN – Anchorage

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