James C. Kelly, a wealth strategist at PNC Bank, tells CNBC Make It that "volatility happens" and that financial strategists believe these recent swings are short-term, not the beginning of a long-term correction or bear market.
Greg McBride, chief financial analyst at consumer financial company Bankrate, agrees: "Putting the market volatility in context," he tells CNBC Make It, "the stock market is still in positive territory for the year."
This could also be an opportunity to re-balance your portfolio. Be sure you're including a mix of stocks, bonds and other securities to lessen the impact of any potential loss. Consider buying more stocks while prices are low, but don't give into the temptation to "panic-sell."
"Panic-selling is the worst thing you can do," Joe Mallen, chief investment officer at Helios Quantitative Research, tells CNBC Make It. Instead, "look for opportunities to put unused cash into investments you have been considering. Consider it a time when everything is briefly on sale and buy into broad market funds or individual stocks you believe in long term."
"The best thing would be to buy more, or at the very least hold tight," McBride adds. "The worst thing to do is sell into a market decline if your long-term objectives haven't changed."