Does 10% in S&P per year still hold?

Does the classic “10% per year” return expectation for the S&P 500 still hold in today’s market environment?

Historically, the S&P 500 has averaged roughly 10% annually over long time periods when dividends are included. But with the market moving so aggressively lately, it honestly feels like we see 10% swings every other month. Massive rallies, sharp corrections, AI hype, rate cuts, geopolitical tensions, and retail speculation have made the market feel far more volatile than what many investors were used to a decade ago.

What do you guys think?