Anaylists work to determine Katrina's economic impact.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2005 Daily News

Byline: Lore Croghan

Sep. 8--With estimates of the damage from Hurricane Katrina surging to as high as $200 billion, Wall Street gurus are trying to figure out what the storm means for the economy -- and for investments.

Some fear that the catastrophe -- which has cut crude-oil production in the Gulf of Mexico by 58 percent, shut down five U.S. oil refineries and closed the Port of New Orleans -- could kick our country into a recession.

If you're one of the worriers, what should you do to protect your financial health? Your Money asked the experts what people with $10,000 to invest should do to defend their investments against the economic uncertainty -- or a recession.

"You don't want to make emotional decisions -- that can be a losing proposition," warned Scott Kahan, a certified financial planner at Financial Asset Management....

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