Nifty and Sensex went up the hill, they took along the NASDAQ and Hang-Seng too, then Greece and Obama's problems started and they all came tumbling down!

Ironical, but the Jack and Jill poem seems to hold true for what's happening in the financial markets around the world. Every market seems to be tumbling. So, what does all this hold in store for the common man.

The common Indian is already under pressure from rising inflation, investments giving poor returns and lower salary hikes too!

So what does an amateur investor do in the current scenario?

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Stock markets

If you have just entered the market recently and are not holding any blue chip stocks it would be a good thing to exit the market and wait for prices to stabilize.

All the indications are that things are not going to be Rosy in the very near future.

And if you are not a seasoned investor, the current scenario can make you jittery.

If you are mulling entering the stock market now, please wait for things to stabilise.

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Commodity markets

All the indicators are pointing to a direction where Industrial production is showing a negative trend.

Even the finance ministry has said that the earlier projected growth rates of around 9 might be a distant possibility.

In such an environment it is better to shy away from the commodities market as they are directly affected by industrial production/growth.

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Derivatives

For a person entering the financial markets for the first time, very basic products itself take a lot of time to digest.

Derivatives are always a challenge as even experts take a lot of caution while dealing in the complexities of the same.

Given a traumatic market condition and a hazy outlook across the globe with regards to the future and what holds for the Global markets (the American market and what's happening with the US debt situation has shocked every single expert worth his salt), it is a very bad time to enter the derivatives market for the amateur investor.

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Sell your dollars

This does not seem to be a great time to hold on to the US dollar.

If you have the currency with you, try to sell it off as the exchange rates are indicating a weaker dollar in the coming future. Sell it now when you can get a better exchange rate.

So what do I do with my money? Where does an amateur investor invest today?

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In the current situation there are two positive channels to move your money into:

Gold: Buy gold in the form of coins/bars and stay put.

Gold has been historically considered to be a safe investment haven when all other investment products are in a downward trend.

Every government across the world is trying to increase its gold reserves as they have become wary of a weak US dollar taking them down in a slide.

This would mean that gold prices will see an upward rise.

A word of caution: Be aware of the global happenings and be ready to sell your gold when you get indications of prices going down.

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Fixed deposits: Bank deposits are also a great option now. RBI's high rate policy has ensured that banks are offering higher returns on fixed deposits.

And considering the strength of the Indian banking system, deposits are also a safe bet.