Lots of people living paycheck to paycheck will be hurt by this. Retirement funds invest heavily in the stock market. Downturns endanger people's pensions.
yes, I know. I, too, have a 401(k) that I will not see any payout from because people somehow find ways to lower the return of my 401(k) every single year, no matter what the stock market does overall.
a random number generator could pick stocks better than whoever runs my 401(k).
anyway, I'll be over here living paycheck to paycheck doing my best to simply stay afloat during the recession.