His wife, Chia, works in manufacturing at Intel. They aren't too worried. But their Plan B includes a possible move to a lower-cost part of the country. Here in Silicon Valley, where stock ownership is among the nation's highest, fortunes, and spending, are inextricably linked to Wall Street. But now that Wall Street is overcome with gloom, with blue chips suffering their worst-ever weekly point drop last week, they're trying to keep some perspective.
Some residents shrug off subsequent losses.
And some even see a silver lining. Maybe an economic downturn will make it cheaper to get the back yard landscaped, speculated Devan, a Microsoft senior software developer who wouldn't give his full name. But for others, a new anxiety casts a shadow over Santa Barbara Terrace. Sure, Selvaraj Henry expected the stock market to come down from its lofty heights. Intel is cutting 5,000 jobs, so far without layoffs.