So how is this stock market / China thing going to affect me (joe blow public)?

Question

The S&P/TSX composite index closed with a loss of 364.35 points to 13,040.11, down 2.7 per cent, after the Shanghai composite index, which had surged 174 per cent since mid-2005, tumbled 8.8 per cent amid speculation about new austerity measures from the Chinese government to slow sizzling economic growth.


It was the steepest one-day loss on the TSX in percentage terms since April 28, 2004, when the index fell 3.5 per cent after Nortel Networks fired its CEO.


The junior TSX Venture Exchange dropped 164.67 points to 3,109.97, while the Canadian dollar surrendered 0.43 of a cent to 85.73 cents US.


New York markets also sustained sharp losses with the blue-chip Dow Jones industrial average falling 416.02 points to 12,216.24 amid sentiment further eroded by negative economic news.


The Nasdaq composite index dropped 96.65 points to 2,407.87 while the S&P 500 index declined 50.33 to 1,399.04.


TSX losses were right across the board,

Answer 1

Joe Blow who works hard and has this country on his back will go to work in the morning the same as always. His company may feel the effect and the owner in particular who has his over paid money soaking up the profits that he doesn't share with Joe Blow who is barley making it after paying rent, buying food, and keeping his wife and 3 kids on min wage. I hope he loses his a**.

Answer 2

Not a bit. It was only a 3% drop dude. The Market is fine! Consumer confidence is the highest its ever been in 6 years! jUST LOOKED AT MY PORTFOLIO AND THINGS ARE JUST GREAT!

Answer 3

consumer confidence will go down, the GDP will do bad for 2 qtrs then we will have a recovery. soon will be a good time to start buying some stocks.

Answer 4

It happened before, and we climbed out of it.

It only became a problem today? That's odd.

Answer 5

you're screwed