Submitted by Patrick Cote on October 15th, 2014
Today’s stock market decline hurts most folks – as I am writing this, the S&P 500 is down over 1% and had fallen more earlier this morning. Many other markets around the world are down 2% - 3%.
Is it time to panic? No, especially if you have a long-term perspective for investing. We are getting closer to correction territory with the S&P 500 off about 8% from its high (the definition of a correction is when the stock market falls more than 10%).