For the average person, what does it mean when "stocks plunge?"?

Question

In what way does it affect our economy or our lives as regular working-class people.

Please make it simple.

Answer 1

It makes all of us less wealthy, even if we don't own stocks.

For example, suppose that I work in a shoe factory, but I don't own any stock at all. All those stockowners that are less wealty are going to buy fewer goods, including shoes. So, my income might fall, and I might even lose my job.

Answer 2

Less money