Yes, that's how the reputation system works. Downvotes on questions are "free". Downvotes on answers will deduct one reputation from the person who cast the vote.
You can find this information in the Help Center article "What is reputation?"
You lose reputation when:
your question is voted down: −2
your answer is voted down: −2
you vote ...
The +100 rep association bonus is not counted in the protection algorithm. The post notice states (emphasis added):
To answer it, you must have earned at least 10 reputation on this site.
and the "on this site" part is actually quite literal, though not entirely clear. Therefore, looking at your rep history, you've got +100 for the association bonus and +...
This rule was added due to a discussion on Clever bounty reputation hack (on Meta SE) back in 2010.
So here's the hack:
Find an interesting question
Research and provide a very good answer
Open up a bounty on that question to attract attention and votes to your new answer
2 and 3 may be out of order--I didn't see the timing of it. But either way,...
Tags and their structure are very site specific. A user should have some knowledge on how a site does organize its tags in order to create new one. That's one reason why you need 300 rep here and why it doesn't matter what position or how much rep you have on other sites.
One more argument in addition to eldarerathis' answer: Downvotes are not intended to punish the poster, but to cause him to improve his post. If he does, you can take back your downvote (and get your rep back).
If it was a real bad post, and receives enough downvotes (or attention from our mods/high-reppers [not "high rappers" :)]), the post gets deleted. ...
You don't need reputation (that's how we call it) to ask questions (or answer them); you can already do that at 1 reputation. You do need 50 reputation to comment.
You gain reputation by asking good questions or providing good answers; other community members can upvote them and you'll get 10 reputation for each upvote. Another common way (where I got most ...
You do not have the privilege to view deleted posts as of now, otherwise, you could have figured this out yourself. In the last 24 hours, you suffered a loss of 4 points in total, accrued from two suggested edits earlier. The two posts, both questions actually, have been deleted by Community user as part of deleting abandoned questions. Those two questions ...
As already explained in the comment section, this is a case of serial voting. To summarize it on your case,
Voting fraud is the systematic voting against correct voting rationales. Fraud most often happens with a single user continually voting (up or down) on many of your posts within a short period of time. This is not considered normal behavior and the ...
Here is the breakdown:
You had 1+5+2=8 points until an hour ago.
Then you received a downvote on a post of yours which took two points out of the total, ending up at 6 points.
Now, you pretty much had it all figured out, but you're missing the point stated in help center here:
Downvotes remove 2 reputation from the post owner.
The difference in rep-points is 15, which suggests someone might have accepted one of your answers before you checked first time (46), and decided otherwise during the same day (46-15=31). As that makes 15-15 on the same day, it's not shown as one action canceled out the other "immediately".
While Bryan Denny ♦ already cleared the mist here, I strictly recommend reading the question: Who are the diamond moderators, and what is their role?, and the very helpful answers there including this one which says:
Diamond moderators are human exception handlers. The main function of diamond moderators is to follow up on flagged posts but they also ...