Many Americans are feeling financial anxiety with the recent losses in the stock market, a coin-toss chance of a recession and grim job market.
"Since the (Trump) administration came in, it feels like a bit of a firehose," said Brian Mullan, a Philadelphia-area therapist, about the volume of dismal economic news.
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Approximately 10,000 federal workers lost their jobs in February and another 4,000 in March as a result of Elon Musk's Department of Government Efficiency. They are entering what was already a bleak job market with job openings down from 8.4 million in March 2024 to 7.6 million.
"To be blunt, it's a brutally competitive job market right now, and that was before we had more than 200,000 federal workers flood the private sector," career coach Amanda Goodall, founder of The Job Chick, told Newsweek on Tuesday. "Is the job market going to be tough for federal workers? You bet it is."
The day-to-day uncertainty about the overall economic outlook, affected by President Donald Trump's vacillations, only has added to the stress many people are facing. The stock market suffered four days of precipitous losses due to anxiety ahead of Trump's "reciprocal tariffs" taking effect Wednesday morning. The market then skyrocketed Wednesday afternoon after Trump announced a 90-day pause on the tariffs — except for the 125% tariff on China.
The seesawing of Trump's decision-making, and the chaos that ensues as a result, is both frightening and anxiety-provoking, Mullan said. And as frightening as they may be, it's better to acknowledge that people's financial fears are real right now, Mullan said.
"People are not making this up," Mullan said. "It's not in their heads. They're not crazy. I'm not crazy. You're not crazy. … This is happening."
It's important to recognize and address stress and what's causing it before it negatively impacts emotional well-being, according to Dr. Jeffrey Borenstein, president of the Brain and Behavior Research Foundation, which promotes mental health research.
"People often minimize the stress they are under and the effect it has, and don't take action," Borenstein said in a news release. "But addressing stress early is essential to protecting your mental health."
One way to do this is by developing an action plan, for instance creating a weekly budget and prioritizing debt.
"A lot of why we assume the worst-case scenario is because we have inadequate information," Mullan said. "Sometimes we have inadequate information, because we're scared of what the information is going to be."
Acknowledging the fear, but then actually gathering the information – getting the budget numbers into a spreadsheet, for instance – can help alleviate catastrophic thinking, Mullan said.
A mindfulness technique called box breathing, or square breathing, also can be helpful when people are feeling overwhelmed by anxiety, Mullan said.
Sit somewhere with feet on the ground, "so you're literally and figuratively grounded," Mullan said. Breath in through the nose for four counts, hold the breath for four counts, exhale through the mouth for four counts, and hold the breath four counts.
Square breathing "turns our attention inward so we're not hearing CNN, we're not hearing our notifications," Mullan said.
"It is impossible to have a panic attack when you are breathing every four seconds," he added.
Somatic awareness techniques, such as conducting body scans, also are effective for managing stress triggered by financial insecurity, Mullan said. Somatic awareness has to do with the conscious perception and interpretation of internal states and sensations in the body
Johns Hopkins Medicine has information about a variety of somatic calming exercises.
How to manage stress and anxiety amid uncertainty
Borenstein suggests these seven strategies for managing financial stress and anxiety:
• Be honest about your circumstances: Suppressing concerns can heighten stress. Whether it's financial limitations or emotional struggles, being open and direct with others can relieve pressure and strengthen understanding.
• Lean on your support network: Trusted friends, family or community members can provide encouragement, fresh perspectives and emotional comfort when times get tough.
• Take action to regain control: Small steps — such as updating a resume, researching solutions or volunteering for a meaningful cause — can reduce anxiety and restore a sense of empowerment.
• Avoid unhealthy coping mechanisms: Turning to smoking, overeating or alcohol may offer temporary relief but can worsen stress over time. Instead, consider healthier alternatives like walking, journaling or speaking with someone you trust.
• Limit social media and news consumption: Constant exposure to distressing news headlines and the pressures of social media can fuel anxiety and make stress feel even more intense. Consider setting a specific time each day to check the news and avoid scrolling before bedtime.
• Engage in activities that help you cope: Whether it's reading, gardening, attending religious services or practicing meditation, discover what works for you and make time for it consistently.
• Prioritize exercise and sleep: Physical activity releases feel-good hormones, and a consistent sleep schedule supports brain health and emotional stability — both critical in managing daily stressors.
