The stock market had its worst day in months on Wednesday, thanks to fears around rising interest rates and dropping tech shares. The Dow Jones Industrial Average plummeted 820 points, and the S&P 500 dropped 3.3 percent as more than half of its stocks entered correction territory. That leaves many investors worried and wondering what to do.
During times of stress and uncertainty, Oracle of Omaha Warren Buffett recommends keeping a level head. In response to wild market fluctuations back in 2016, he told CNBC that buy-and-hold is still the best strategy.
"Don't watch the market closely," he advised those worried about their retirement savings at the time. "If they're trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe sell them when they go up, they're not going to have very good results."