WWL-TV

As one of the worst weeks in Wall Street history wraps up, New Orleanians are assessing the damage.

"Yeah I'm worried. We're just going to try to ride it out. My husband and I are in health care, I'm real happy about that right now, but yeah, it scares me to death," said resident Kim McCraney.

And the situation could cause mental health problems for some, as stress and anxiety grow.

Dr. Mark Townsend, a psychiatrist with the LSU Health Sciences Center in New Orleans, says coping with the feelings of despair and anxiousness can be done.

You can control your emotions, even in a time of economic peril.

"I think it's best we focus on the here and now. What we're doing, what we like about our work, about our lives," Townsend said. "What you like to do for relieving stress -- whether that be exercise, whether that be deep breathing exercises which are very easy to learn. Frankly, just paying attention to yourself, paying attention to your health, can be the best thing you can do."

Townsend says there are some clear signs to look for, which could mean your stress level is rising.

Often he says, people begin having sleep problems, they drink more, or even drink alone, or they go through a change in eating habits.

And there’s a more obvious symptom -- panic attacks.

So, how do you get past it?

Townsend suggests trying not to pay so much attention to a situation you can't control.

"It's something I address by inviting people to think about how this is really affecting them personally. In many cases, it isn't affecting them personally, it's more of a sense of panic, and so really getting in touch with that, asking yourself, 'What is the worst that's going to happen to me because of this situation,' can really calm you down," said Townsend.

The worldwide economic crisis comes on the heels of other challenging times for many Louisianans -- something Townsend uses to help put things in perspective.

"Hurricane Gustav, for example, many of us went through tremendous stress. We survived it. We're all back together here now. We're all going through stress. The country is going through stress now, and we will all be together, fine at the end of the day," he said.