TORONTO - The recent volatility of the North American markets has taken investors on a roller-coaster ride many can't wait to see end.

Plunging indexes can boost stress and anxiety levels as individual investors watch fluctuations in the market -- all while taking a hit on their portfolios.

For the average person, anxiety over the economy tends to take hold when headlines leap from the business section to front-page news, said Rod Phillips, president and CEO of Shepell.fgi, which provides support around mental, physical and social health to some 8.5 million employees at 6,000 Canadian companies.

For most employers, the first sign of employee stress can be observed in work behavioural changes, such as checking market activity online or a groundswell of watercooler chatter, he said.

"We have started to see people increasingly phoning with concerns around financial issues, not as confident as they might have been about being able to make their mortgage payments or maybe feeling a bit overextended," said Phillips, whose front-line staff field 4,000 calls daily at their care access centres.

"For the organizations, of course, that means that the stress levels and the anxiety levels for people are increasing, and that tends to mean they're being less focused on their work."

Further into an economic decline, they tend to see pressure around people's relationships, and money and financial concerns can be a catalyst for such problems, he said.

Concerns expressed over the recent market fluctuations bear similarities to the earlier part of the decade following the technology boom bust, which saw companies like Nortel suffer huge workforce losses and stocks invested through RRSPs take a downturn, Phillips said.

He notes the difference was that the decline then was very sector-specific, whereas the recent market volatility affects more people.

When it comes to managing anxiety, Phillips said it's important for individuals not to get consumed by it.

"We see this in people who are checking the Internet to see what the markets (are) at every 15 minutes or are constantly listening or becoming focused or obsessed by the issue - that's not helpful," he said.

"You need to put it in perspective, and in perspective, what we do know is over time usually the markets correct and things will get for the better."

In the short term, Phillips said individuals need to focus on ensuring their financial house is in order, getting a good picture on their finances and maintaining their job security, while also realizing there will always be ups and downs in the markets.

"Just because it's on the front page of the newspaper doesn't mean that the world's coming to an end and just keep that in perspective," Phillips said, which will allow individuals to face things and be successful.

Those in the role of advising investors are taking similar strategy to heart.

Chris Pepper, a spokesman for Fidelity Investments Canada, said the company invited advisers across the country to take part in a national conference call this week, which included Bob Haber, the company's chief investment officer.

"He suggested to everyone just take a deep breath and watch how this volatility will play out because right now there's a lot of stuff going on, let's see what's going to happen," Pepper said. "We always say don't make knee-jerk reactions."

The call was aimed at putting market moves and the recent rocky activity in perspective, he said.

"In times of uncertainty or volatility, there's sometimes a lack of information and there's sometimes too much information," he said.

"What we're trying to get out to our clients, financial advisers, and on to investors is just where does Fidelity fit into this, what are we thinking, what are we seeing."

There have been instances when market downturns have been beneficial to investors because certain stocks can present themselves as buying opportunities due to their lower cost.

"Market volatility can be stressful for people, but that's sort of the benefit when you have a professional money manager," Pepper said. "You have people where this is their job to look at the market and find the buying opportunities and manage through this volatility."