He added: "However, at this current moment, I am optimistic and think the effects of a stock decline will be limited."
While yesterday's stock decline was sudden and sobering, the stage had been set in the previous few sessions.
But he said the city could not say with certainty that the reason was because of the stock decline.
It's important to recognize that today's stock decline doesn't signal any fundamental change in the condition of the economy.
Skeptics, meanwhile, were trying to capitalize on the possibility of a further stock decline.
Despite its stock decline, Maxygen is rated by investors as the best of the breeders.
Wall Street: More baby boomers who never saw a stock decline.
The stock decline also came despite more positive news on corporate earnings.
The slump in the women's sportswear industry has deepened since the stock decline.
The truth is that efforts to pin the stock decline on any particular piece of news are a waste of time.