What to Watch After Stocks Decline

Stocks declined on concerns about the Chinese economy Thursday, but what’s ahead for next week and beyond?

On “Fast Money,” trader Guy Adami said the S&P 500 was trading around the same levels at which the market topped out in May 2008.

Adami was expecting to look at what stocks do for the next day or so to tell the tale of where the market is trending.

Trader Anthony Scaramucci expected to see “massive stimulus from the government of China,” saying that Beijing was propping up companies to stave off unemployment.

One other headwind was looming, he said: Once the credit dries up, it will be tough to bring it back.

“We all know a correction’s coming,” said trader Joe Terranova. “I think the ultimate question is what do you do with that correction and how deep is that correction?”

Terranova pointed to companies with strong earnings, noting that Peet’s Coffee and Yum! Brands closed at or near 52-week highs.

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Trader disclosure: On March 22, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long NXPI; Joe Terranova is long IBM; Joe Terranova is long MCD; Joe Terranova is long EMC; Joe Terranova is long MSFT; Joe Terranova is long JOY; Joe Terranova is long OXY; Joe Terranova is long LQD; Joe Terranova is long POT; Joe Terranova is long TBT; Joe Terranova is short APRIL GOLD FUTURES; Joe Terranova is short MAY SILVER FUTURES; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTC; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long BAC; Anthony Scaramucci is long C; Anthony Scaramucci is long IBM; Keith McCullough is long xlu; Jim Rogers is long GRAINS; Jim Rogers is long CHINA; Jim Rogers is long SILVER; Jim Rogers is long GOLD; Doug Kass is long TBT; Doug Kass is long TBT CALLS; Doug Kass is long ETFC; Doug Kass is long SCHW; Doug Kass is long LOW; Doug Kass is long BRK.B