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Early in the week, the S&P 500 entered its first correction in nearly four years (A correction is when an index falls 10% or more from its high). In total, it plunged 11% in 6 days, wiping out $2.2 trillion in value from US stocks.
The CBOE Volatility Index (VIX), a popular measure of investor fear, is still flashing red. It closed Monday at 27.95, 64% higher than its average since August 2011, when the S&P 500 had its last correction.
We strongly recommend using stop losses on all stocks. A stop loss is a preset price at which you plan to sell. If a stock hits that price, you sell. This lets you own stocks that are rising while also limiting your risk if markets crash.