Americans have gotten used to market anxiety. 

Allianz Life did a 2018 study on Market Perceptions. According to Paul Kelash, vice president of Consumer Insights at Allianz Life, the study found that "People are more comfortable with volatility, but still want to protect retirement."

"Our perspective is that people are getting accustomed to a volatile news cycle" said Kelash.

The Allianz survey also found that 65% of people surveyed are not considering taking any action with their portfolios. Meaning that people are not buying stock when it's down, sitting down with financial advisers, or moving money from stocks to cash. 

"People are in a period of sitting tight," said Kelash.

The study also found that 57% of participants were willing to give up potential gains if they can put a portion into retirement funds.

67% of participants said they would "feel better about [their] retirement savings if [they] knew some of it was protected from market loss."

There's "simmering anxiety, right beneath the surface," said Kelash.

42% of Americans fear a market crash and 44% of Americans fear a major recession.

Kelash's advice to consumers is to "look at [the] total portfolio, decide whether or not its time to sell off risks."