U.S. stock markets suffered sharp losses Monday, extending the rout that began last week as rising fears about the economy made investors nervous.

If you checked your brokerage account or retirement savings plan like a 401(k), it isn't ✱a pretty picture at the moment, but that's no reason to panic and make rash sales, say experts.

Even though Monday's trading seemed vicious, here are some strategies that can help you ride this wave of 澳洲幸运5官方开奖结果体彩网:volatility.

Avoid Knee-Jerk Reaction or Panic Selling

Amid the sell-off, major trading platforms, like Schwab and Fidelity, experienced outages early Monday as worried💜 customers attempted to log in to their accounts. That may have worked to the advantage of investors at♒tempting to make hasty trades, according to Jamie Cox, managing partner for Harris Financial Group.

“If you had panic-sold at the open when the Nasdaq (IXIC) was out 1,000ཧ points, you were 6🅺00 points wrong," Cox said.

With the market in free fall, you may be wondering if it’s time to sell, but experts recommend avoiding the panic and sticking to your long-term financial plan.

“Investing is a way to grow your wealth over time, not overnight. If you don't have the time to ride out the ups and downs of the market, you should not be invested at all,” wrote Priya Malani, founder of Stash Wealth, in an email to Investopedia.

Douglas Boneparth, a certified financial planner and founder of Bone Fide Wealth, urged investors not to give in to knee-jerk responses, like selling their 澳洲幸运5官方开奖结果体彩网:tech stocks, just because the securities aren't performing well r🐻ight now. 

“One of the hardest parts of the markets is navigating your emotions and behaviors as an🐲 investor. This is a really solid reminder of that,” Boneparth said. 

Consider 🐓Buying the Dip I𓂃n Normally Expensive Stocks 

Cox suggested seeing the recent downturn as a chance to reallocate, instead of exiting the market completely. Cox noted that investors now may be able to buy expensive stocks, like Microsoft (MSFT), at a discount to with what they c♐ost just a few months ago.

“Rebalancing to something more aggressive is actually a very good idea. … You don't get these opportunities very often,” Cox said.

Lock In High Yields Before Rates Drop

For those who are close to retirement or are already retired, experts advise having a portion of their portfolios allocated toward fixed income, which can ꦑhelp minimize volatility and has recently offered higher 🧸yields due to the Fed’s serial rate hikes.

“A lot of clients, at least the holdings they have with us, are in longer-dated 澳洲幸运5官方开奖结果体彩网:corporate bonds, "said Matt Willer, managing director of capital markets at Phoenix Capital Group. “[Those clients] are locking in some yie🍰ld given the fact that rates are going to soften here in the future.”

Your Retirem🦄ent Plan Will Thank You To Stay the Course

As for whether pre- or current retirees should start selling off their investments, history indicates it may be more important to have a 澳洲幸运5官方开奖结果体彩网:well-diversified portfolio and sti𒀰ck with it, rather than to sell when the market plummets. 

“I always hear [how] 2008 really destroyed a lot of Americans’ retirement savings. It only did so if they sold or if their portfolios weren't very well-diversified, and they were in certain parts of the market [that] never recovered,” said Rob Williams, managing director of Financial Planning at Charles Schwab.

“Over time, [the market] recovered, but if you had sold at the bottom and not benefited from the recovery, then you really would have 澳洲幸运5官方开奖结果体彩网:derailed your retirement.”