Nearly 40 percent of Americans said they were "anxious" about stock market volatility, according to Allianz Life's 2018 Market Perceptions study, mainly because they worried they would not be able to protect their retirement savings.
Another 42 percent feared a big market crash, 44 percent predicted a major recession on the horizon and 38 percent said "if the market experienced a significant drop causing them to lose a lot of money, there is no way they could rebuild their savings in time for retirement," according to the findings.
The survey was conducted in June, and in October, market conditions proved even more unstable: The Dow Jones Industrial Average fell over 500 points Friday, for example, before rebounding and recovering most of its losses.
Many Americans are already at risk of retiring broke, or close to it. Though financial experts generally recommend trying to accumulate at least $1 million to fund retirement, a survey from personal-finance website GOBankingRates found that 42 percent of Americans have less than $10,000 saved.