All is not negative though.
For most people aged under 40 this is actually not a bad thing as we still have most of our retirement savings yet to happen and a stock market hitting rock bottom means great opportunities for it to rise in the next years........
At least that's what I tell myself each time I look at my 401k :P
Stupid thing already cost me 10k $ though as I had stock options expiring in 2 months I hadn't exercised yet and now they are cheaper than the option price.............