But personal finance experts say consumers should not panic.
Monday saw Chinese markets losing eight percent of their value, and the rand touching its lowest ever point to the dollar.
European markets also saw €400 billion in value being wiped out.
Liberty Life economist Tendani Mantshimuli says our economic situation is a grim picture.
“Going forward, there doesn’t seem to be a silver lining of where growth is coming from, especially if what’s happening in the global market is going to persist for a longer time.”
