With the stock market tumbling, bank brokerages are bracing for a shift in sales from mutual funds to less volatile investments.

Most brokerage executives say they have yet to see a significant slowdown in fund sales. But given the market's 9.7% drop since its peak March 11-as well as last month's 25-basis-point increase in interest rates- brokerages are preparing for a flight to fixed annuities, money market mutual funds, certificates of deposit, and other safe havens.

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