Many take capital loss as a result. Investors suffer huge losses, retirement portfolios lose value. Taxable income drops. Mass sell-off results in public panic. As problems mount, many businesses lay off workers, some file for bankruptcy.
Public anger soars.
Late January 2000 - Many businesses suffer from deprivation of services as impact spreads. Business failures will cause many lost jobs. February 2000 - Loss of jobs result in higher unemployment claims and lower income tax revenues for federal and local governments. Demand for local government medical and welfare services grow as many can not afford private services. Citizens are angry about continuing problems.