If you look at the 100 year history of the DJIA, there's still a LOONG way for it to potentially drop.
It's about minimizing risk. Those with high risk tolerance I would advise to buy now, but be prepared to lose everything. If you're close to retirement you lose nothing by pulling out now.
> Those with high risk tolerance I would advise to buy now, but be prepared to lose everything. If you're close to retirement you lose nothing by pulling out now.
If your risk tolerance can't handle what's happening, your asset allocation was already wrong. Trying to "fix" that now, as a response to this downturn, would very likely be a mistake.
Are you advising to sell equities right after they've taken a beating? Sounds awfully close to "buy high, sell low".