Any time the market moves several percentage points in a week, let alone a day, it can make an investor wonder if they need to be doing something, anything, in response. I regularly get questions from clients around the time of big moves in the markets in either direction. Should the strategy change? Am I missing out? Could I be better positioned? One example of such a move was Tuesday of this week when CPI data was released and came in slightly better than expectations. The S&P 500 index was up 1.91% at the close while the Russell 2000 index, a widely followed small-cap U.S. stock index, ended the day up 5.49% and U.S. Treasury yields dropped sharply. Today we’ll examine what might explain that big day in the markets, why investors might feel a need to act, and whether taking some action makes sense.