The Dow Jones industrial average zigged again Thursday, plunging 334 points — the third straight day of 200- point-plus gyrations.
The increased volatility has investors whipsawed, from Tuesday's 272-point loss to Wednesday's 274-point bounce-back. More than half of this year's 200-point moves have happened in the last two weeks.
"Investors are not conditioned for this type of market after three good years," said Dean Junkans, CIO for Wells Fargo Private Bank.
"We've been long overdue for a correction," he told AP.
The pros are telling clients to remain calm in the face of such volatility, citing that the S&P 500 index is still up 4.3 percent this year — following a 30-percent surge last year.
The selling was deep and broad Thursday, as all 30 blue chips in the Dow fell and 482 of the 500 companies in the S&P 500 index ended the day lower.
Worries about a slowing global economy, particularly in Europe and Asia, fueled recessionary fears there.
Equities extended losses Thursday after European Central Bank President Mario Draghi said there are signs the Euro-area's economic growth is slowing and policy makers must lift inflation from an "excessively low" level.
"The news out of Europe is nothing new, but it's come to front and center now with Draghi's new comments," said Timothy Ghriskey of Solaris Asset Management.
Separately, a German report said exports sank 5.8 percent in August, the biggest monthly drop in five years. The figure raises concerns that Europe's largest economy may fall into recession in the third quarter.
"Europe is struggling. Asia is struggling. Japan is struggling. The United States is the best house on the block at the moment," Jurrien Timmer, director of global macro at Fidelity, said.
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