Lori Paris reports on the TSX's wild ride

Financial workers on Bay Street are likely knocking back the antacids and chewing off their fingernails after a rollercoaster of a day on the markets.

Listen to Lori Paris' report.

In early trading, the TSX plunged nearly 12 000 points, only to rally somewhat in the afternoon to close the day down 573 points, or 5.3 percent.

"It's hard to gauge where it's (the falling market) going to end," says Greg, having a much needed cigarette break outside the BMO building. He understands why people are pulling out of the stock market, but he plans to ride things out.

"From a long term perspective, I think things will be fine. It's just a matter of the short term. It's a little bit unnerving. I think by and large, people should keep an eye on their goals of long term financial stability, instead of being concerned with what happens on a day to day basis."

Catherine saw the writing on the wall six months ago, and pulled out of the stock market, instead putting everything into GIC's.  But as for those who weren't so lucky...

"I think once you hit this stage, you're going to do nothing but lose money anyway until it (the stock market) starts to rebuild," Catherine says, on her way to a meeting on King Street.

"So to me, it makes sense that if you're still in it right now, just stay there. Stay in it long term."

Walking up Bay Street, Chris stood out from the crowd because of the big smile on his face. It may not be a good time to buy into the market right now, he says, but it will be in a few weeks time when he predicts the market will bottom out.

"It's a buying opportunity if there ever was one," Chris says, grinning.

 "I mean, for the people who missed it over the last couple of years, they still have an opportunity to get in."

As to whether Canada faces the same kind of financial crisis plaguing the US right now, Catherine says she thinks Canadians are safe.

"I think in Canada we have so many regulations, and our government is much more careful in how people are allowed to invest, and how banks are allowed to function, that while it seems to us like the sky is falling, its truly not the case."