The Globe and Mail reports in its Saturday edition that last week's market action was weird, what with Japanese stocks hitting 37-year lows, with losses in Europe, the United States and Canada. The Globe's Ian McGugan writes that weirder still is that much of the panic dissipated by the end of the week. The sturdiest explanation for odd behaviour may simply be that investors are nervous. Apollo Global Management economist Torsten Slok sees no weakness in restaurant bookings or air travel or Broadway show attendance -- all areas that are usually quick to register economic distress. He thinks the U.S. will slow but avoid a downturn. Capital Economics, however, now see a 27-per-cent chance the U.S. tips into a recession over the next 12 months, up from 22 per cent previously. Similarly, JPMorgan puts the chance of a recession at 35 per cent, up from 25 per cent a month ago. Investors who want to stay in the market might want to consider a tip from CIBC analyst Ian de Verteuil. He recommends considering low-volatility companies with steady, dependable earnings such as grocer Metro, trash collector Waste Connections and electric utility Fortis, for example. Such stocks have a history of outperforming in down markets.