Many investors opted for the sidelines during the downturn in the stock market, but black investors sat out more their white investors, Dow Jones Newswires reports.

According to a study by Ariel Mutual Funds and Charles Schwab, only 61% of blacks polled in the months of January and February had money invested in the stock market. This is a sharp contrast to the 74% level in 2002. Stock ownership by white investors polled stood at 79%, down from 84% in 2002.

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