I have mixed feelings. I sent in some checks to put more money into some mutual funds. One check has already cleared prior to today's slump, which means I probably bought too high. However a check to another fund probably hasn't arrived yet, so maybe I'll be buying low on that one.
Why would we all be in big trouble? I just avoid logging into my 401(k) in months like this but instead console myself knowing my contributions each payday will buy more shares who's price will eventually go back up.
People who have no understanding of the stock market should not be investing in it, or even paying attention to it, and even commenting about it if they don't understand the the market is a long-term proposition.
If the market is on a downhill slide for many months and the trend has been downward for years, then that would be big reasons for concern.
The market runs in cycles and you have to look at the long-term trend, like for example, 10 or 20 years?
In the long run, the market has always shown a steady rise.