Yup, the S&P 500 is down 23% as of June 17, 2022 from the value December 31, 2021. Footnote, this applies only if all your account is invested in the S&P 500. Many of you have seen your account decline by less. See Footnote (1) One question from an old-school risk tolerance questionnaire would ask: “If your $100,000 investment portfolio goes does in value by $23,000, what would you do: Sell everything and wait until things get better? Sell some of my riskier investments and invest in more conservative investments? Do nothing? Start buying with any available cash?