Volatility has once again returned to the equity markets. In this timely Market update we take a look at the reasons for the recent market pullback while offering perspective on the outperformance of the market since October.  Lastly we weigh whether or not the market is experiencing another "growth scare" or if a U.S. recession will materialize. We continue to recommend a defensive tilt in portfolios and have been proactive in trimming equities back to long term targets while remaining invested in high quality companies.

Navigating equity market corrections requires patience. In the article the cost of timing the market, we explain that corrections are a normal part of investing - the S&P500 has encountered 27 bear markets (20% pullback or more) and over 100 corrections (10% pullback or more). Maintaining discipline is crucial to withstanding cold stretches in the equity markets and time in the market matters the most. Mistiming the market even by just 10 days can impact your investment outcome. Staying disciplined and invested will keep you on the trajectory towards achieving your long-term financial objectives.