By panicking and selling up, you sell your stock at the lowest point which is pointless, and the more people that do this, the faster the value of the stock in question will decline. As you can see from the following chart from the ASX (the All Ordinaries), this is but a blip in the radar really. Significant, yes, doomsday, no.
So have a cup of tea, sit down and listen to some nice music. Pat the dog on the head...do anything to calm your nerves. Just don't sell up unless you really, really have to.
As soon as things start to look up, buy! Even if you don't buy at the lowest point, the market will aways bounce back over and above where it was before, giving you lots of gain (as long as you buy the right stocks that is...). If you're unsure, stick to the market leaders like the ASX 200.
Have a relaxing weekend!
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