Average investor fail to notice that one of the main driving forces of the stock market is interest rates. Higher interest rates means lower consumer spending and less research and development work. Fed increases the interest rates to curb the inflation. The environment today is moving toward higher interest rates. If you are near to retirement age, get out of the stock market. If you are in for the long term, no need to panic. But if you are new and want to invest- it is not the right time to invest. Wait or just invest little every month since the S&P valuation is the second highest in the history. Read some investment books and do research before you invest. Good luck.