On Monday, the Australian share market plummeted about $30 million in value before dropping another $60 million yesterday after the Dow Jones suffered its biggest point drop in a single day!
So how does all of this affect you?
This morning, Amos, Cat & Angus spoke with Channel Nine’s financial analyst, Ross Greenwood, who explained the drop’s domino effect.
“It affects interest rates. It affects the Australian dollar if you’re shopping online or thinking about travelling overseas.
"But also, the thing it could affect is your job because the truth is, the stock market is a bit of a barometer of what people think is going to happen in the economy over the next 6 - 12 months.
"If the stock market really is getting jittery, the economy can get jittery and that means your boss might get jittery as well”
Listen to Ross explain the whole mess in less than 5 minutes below!
Has a stock market turn directly impacted you in the past? How do you think this one will play out? Let us know in our Facebook comments!