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A drop in inflation announced this week did little to smooth over the markets as stocks sank early Thursday. That comes amid extended stock market uncertainty that has caused investments to rise and fall, sometimes within the same day. Combined with an inflation rate still almost a full percentage point above the Federal Reserve’s target 2% goal and a pause in interest rate cuts that most expect to be extended when the bank meets next week, many savers may be exploring ways to protect their money right now.
And while no individual savings vehicle is immune from market conditions, there are still some smart ways in which savers can boost their returns. Even simply moving the funds from a traditional savings account, which has a rate of just 0.41% (or less than 50 cents for every hundred dollars deposited), can be advantageous. But which accounts are worth opening now, exactly? Below, we’ll detail three to consider amid today’s stock market uncertainty.
Start by seeing how much interest you could be earning with a top CD account here.
3 ways to protect your money amid stock market uncertainty
Multiple accounts and investments can help buffer today’s stock market volatility. Here are three valuable ones worth exploring right now:
Long-term CDs
A long-term certificate of deposit (CD) account comes with a term longer than one year, giving your money extended protection. And it comes with interest rates in the 4% range, making it an easy way to earn a substantial return, depending on your initial deposit.
Because CD interest rates are fixed, the rate you open your account with will remain the same for the full term. That means a 4.15% rate on a 2-year CD that’s readily available now will be the same 4.15% rate in March 2026 and the same rate when the account matures in March 2027, making this a smart and effective way to combat today’s market changes. Just be careful with how much you deposit, as you’ll typically need to pay an early withdrawal penalty to regain access to your funds.
See what long-term CD rate you could secure here.
High-yield savings accounts
If you want to earn a similar rate to today’s top CDs but don’t want to have to forego access to your funds, a high-yield savings account can be worth exploring. Rates here are currently competitive with the top CDs, making this an alternative for those who need flexibility but still want to take advantage of today’s elevated rate climate.
That said, this account type doesn’t come with the same concrete protections CDs do as high-yield savings account rates are variable and, thus, more responsive to market conditions. Still, they’re generally a better option than minimal interest-earning traditional savings accounts.
Money market accounts
Money market accounts also have elevated interest rates. Not only do they allow savers access to make deposits and withdrawals, but they also offer check-writing abilities that the aforementioned accounts do not. Still, rates here are also variable and can fluctuate based on market conditions. But if you want to earn a high rate, have the option to write checks, and don’t mind rate fluctuations, this can be a good alternative to CDs with locked rates and high-yield savings accounts with minimal functionality.
The bottom line
Savers should always be exploring ways to protect and grow their money, especially in the volatile economic climate of recent years. Recent stock market uncertainty only underlines the importance of keeping your money in the right accounts. By considering CD, high-yield savings and money market accounts now – and by opening one or multiple accounts – savers can better protect their money and earn interest at the same time, giving them a much-needed buffer against today’s market volatility and potential changes still to come.
