Because of the timing of a job change, my 401k has been exposed completely to the downturn in the stock market. As a result, it went down pretty significantly. Nevertheless, I am happy to report that the stock market surge has erased most of my losses. Overall, the account is down 1.6% from what I (and my employer) contributed. Because of the benefit of the company match (I am lucky to have it), it is worth substantially more than what I have actually contributed.
Moral to the story – the company match, if you have the opportunity, is a godsend.