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As you may know, the stock market has experienced significant volatility over the past few days and there are a number of factors at play, including:

• July’s weak jobs report
• Concerns the Federal Reserve may be “behind the curve” on cutting rates
• Lofty earnings expectations for market leaders like Nvidia and Apple
• Political uncertainty in the U.S. and abroad

Given these headwinds, an increase in volatility should not be a surprise. It’s natural for there to be a pullback.

Volatility is unsettling, but not unusual

Fortunately, we have more than 35 years of experience dealing with this type of market activity. As a result, we understand this is part of the normal ebbs and flows of the stock market.

In fact, since 1960, the full-year returns of the S&P 500 have been up more often than not. Although there are no guarantees, that’s why it’s important to take the “turmoil” and “crisis” headlines you’re likely to see in the coming days with a grain of salt.

Remember, no one can consistently and accurately predict the future of the U.S. economy or how it will affect the stock market. In fact, in just the last three years we’ve had predictions of hyperinflation, stagflation and recession - all of which were wrong.

This is why market timing usually ends in failure. That’s why you are in a diversified portfolio, and why we can use opportunities like these to rebalance your portfolio as necessary. It’s an investment strategy designed to help you meet your goals, not react to the market’s inevitable ups and downs.

What should you do now?

We regard the current market decline as an opportunity for long-term investors. If you’re focused on growing your portfolio, you could add to your investments while markets are down. If you’re using your portfolio for your retirement, we encourage you to stay the course.  Or, simply put, use this time as an opportunity to ... do nothing! After all, we are confident that this too shall pass.