Disclaimer: I pay attention to the overall economy but I don’t invest in the stock market and don’t follow it closely. I may use the wrong terms here but you should get the over all idea.
On Monday morning the stock market drops 500 points and another 200 hundred Monday afternoon. Tuesday sees a bloodbath of losses, over 1000 points, and markets around the world are all losing ground. On Wednesday things look like they may be turning around with a gain of 200 points. That is, until early afternoon when one of the largest stocks ever plunges 1200 points prompting authorities to announce that the market will be closing early and will be closed until next week to give them time to correct the situation.
This causes a panic and many people storm their local banks, taking out as much cash as they can. Several fights have broken out at ATM’s as they are quickly bled dry. A bank holiday has been called until early next week; the FDIC has assured people that they will have their money available at that time.
So, what would you do?
(Check the comments section to see the answers from everyone as well as to add your own.)
