One could argue that the value of a company is the sum of net present value of the future free cash flows it can produce. If the market crash is because of peop

One could argue that the value of a company is the sum of net present value of the future free cash flows it can produce. If the market crash is because of peope realizing there is a recession coming for example, it makes sense to update your expectations about the net present value of future cash flows - probably in sum a bit lower than before probably.