At the right of this chart of the NASDAQ Composite is a large decline in the index, but not nearly as large as four previous declines in the past year. Be careful of market narrative and emotion. Stock indexes can still make significant, multi-year advances after hits like the one this index is currently experiencing.
Looking at volatility adjusted moves (via the bars at the bottom of the chart), you can put everything into perspective. So far, this is just 'business as usual.'