Net Worth Update (-55%)

A Terrible month for my net worth.  The market adjustment yesterday cost me a lot.  80% of my losses were due to market fluctuations, while the other 20% was because I spent savings on a three week vacation in France.

I have two gut instincts about how to best deal with the situation.  First I could cut back on my spending drastically and focus on accelerating my debt payments or Second, I could take the money I have and put it into the currently depressed market.

Perhaps the best option is to cut back and do both?

What do you think?