The Nasdaq has hit some turbulence this year. It's currently down more than 10% from its recent peak, which puts it in correction territory. Some stocks have sold off even more. I actually like it when the market takes a breather because it allows me to buy some high-quality stocks at much better prices.

Major stock indexes tanked Monday, continuing a sell-off that gathered steam last week as rattled investors began zeroing in on the prospect of a significant falloff in U.S. growth amid persistent inflation and a wobbling job market.