S&P/ASX 200 Index (ASX: XAO) shares are up 0.3% to 8,724.3 points on Thursday.
The market has endured much volatility in the calendar year-to-date (YTD).
We started the year with a major metals commodity sell-off in late January/early February.
Then the US and Israel attacked Iran in late February, leading to a world oil supply crisis that has raised inflation.
The Reserve Bank of Australia (RBA) has raised interest rates three times in 2026 in an effort to curb resurgent inflation.
The market is pricing a 76% chance of another 0.25% hike when the RBA board meets again on 28-29 September.
Overnight, the US Federal Reserve raised interest rates for the first time in three years.
The Fed increased its benchmark rate by 0.25% to a range of 3.75% and 4%, also due to persistently high inflation.
On top of that, bond yields have surged to multi-year highs in both Australia and the US over the past month.
Rising bond yields, especially at today's level of 5% or more for 10-year bonds, can pull investment away from ASX shares.
Put all of this together and it's not so great for the share market.
The ASX 200 was up 5.6% for the YTD just before the conflict in Iran began.
In the month following the first strike, the ASX 200 fell 8.9%.
There have been more fluctuations ever since.
Today, ASX 200 shares have slipped into the red for the YTD.
Here's a visual aide.
Despite all of this, a large survey shows ASX shares investors are still buying stocks amid the volatility.
Image source: Getty Images
Investors still buying ASX shares
A survey of more than 8,500 Aussie investors and traders conducted by CMC shows continuing engagement in the ASX share market.
More than 55% said they were more cautious, but 87% plan to carry on investing the same amount, or more, over the next six months.
Fraser Allan, Head of Premium Client Management at CMC, said uncertainty in markets had not deterred investors this year.
Rather than stepping back, they appear to be reassessing how and where they participate, a measured response that reflects neither complacency nor retreat.
That's a meaningful shift from what could be expected, given that uncertainty has in the past led some retail investors and traders to flee to cash.
This time, some investors and traders are staying in the market and adjusting how they participate.
ASX exchange-traded funds (ETFs) were the most common way investors and traders had added to their portfolios this year.
About 48% increased their investment in ETFs, 38% raised their ASX shareholdings, and 21% increased their US stock positions.
