By Brian Baker
From Bankrate.com
Stocks, cryptocurrencies, and even bonds have tumbled in 2022 as investors react negatively to rising interest rates, soaring inflation and the Russia/Ukraine conflict.
The S&P 500 index has fallen about 16 percent so far this year, while the tech-heavy Nasdaq Composite is down around 26 percent. Popular cryptocurrencies Bitcoin and Ethereum have also retreated, each falling at least 50 percent from their all-time highs. Even bonds, often thought of as a safe haven during times of market stress, have joined in the rout, with U.S. government and corporate bond indexes down more than 10 percent in 2022.
It can be concerning to watch markets fall so quickly and see your portfolio and retirement accounts decline in value. But it’s especially important during market declines to keep your eyes on your long-term goals. Don’t fall into the trap of thinking you can time the market, jumping in when things are good and out when things are bad. Avoiding this and other misguided moves will serve you well in the long run….