FTSE tumbles

[chimney]

I have heard about the FTSE share index tumbling recently, what exactly does this mean for now and the future?

[fairkatrina]

Worst case scenario? Wall Street will crash, the world economy will plummet, whole currencies will collapse and no one will be able to afford anything for the next five years because infation will rocket to unprecedented levels.

Probable outcome? Some city bankers will lose a couple of hundred thousand pounds - barely a percentage of their bonuses last year.

[youngmafbog]

Not alot in the long term.

Market has just been stabalizing, in fact although FTSE 100 has dropped slightly the FTSE All share is up on the day slightly. The DOW closed up (in 3 gigits) yesterday so looks like maybe bottoming out(But dont go buying shares on my say-so)

I see the previous post goes on about City Bankers, well I am not one but it should be remembered that in fact most of the public are share holders via pensions so in the short term all can be affected. Long term however equities remain good investment if chosen wisely

[WendyS]

If you have a Money purchase type pension (rather than a Final Salary) version, the value of the money in your pot to buy your pension was drop dramatically since pension funds are invested mainly in the stock market. . If you're young, there will be time for its value to recover. If you are near retirement age, it could be a financial disaster for you.