Market is killing me

I have a bit of money in a 401K from when i worked at the radio station and I check it once in a while, this down turn in the economy is killing me. I have lost over 3 grand in the last year I hope it can recover but this is a huge blow to our retirement portfolio. I am not sure what to do I can throw more money at the plan or let it ride and hope it recovers I do not know which way to go at this point. I guess I will wait until after the election to see who is elected President and see if that helps.