I know it seems bad and for some people especially in the US it is BUT unless you are directly affected by one of the banks that went under or simply HAVE to take cash out in the next year or so from your retirement you are in a lot better shape then it looks.

Step one QUIT WATCHING THE [censored] NEWS!!! ,it can't help and it is just stressing you out.

step 2 realize and accept that 90% of this market collapse is based on nothing but fear. People saw some big banks in the US go belly up and panicked which drove the stocks down which caused more panic. Even oil went down to 90$ a barrel and it is not like we weren't freaking out about high oil prices last month.

Step 3 thank god there is an emotion that is more than capable of dispelling fear.
That beautiful human emotion is GREED! Already very smart people have been there every time the market hit record lows to rush in and score some really good deals. This popped the markets back up for a while. Soon people will start to realize that there are some sweet bargains to be had while the market is low.
Just thank your lucky stars we don't have to rely on altruism!

Step4 Beg borrow and steal all the cash you can and buy some stock right now!!!

Buy low sell high! If you don't you will kick yourself for the rest of your lives!

Also people buying stock is what will fix the markets.
It will also make you feel like instead of being helpless while this happens to you instead you are not only rolling with the punches you are doing financial judo.


Step 5 ,after the markets come back. When they come back and they will you should put some money into something like gold that when the markets go down it goes up. Not everything or even most of it but enough so when this happens again
that if you need cash at that time you can sell something that is worth more
while stocks are down.