It is well known that individuals harm themselves by buying high and selling low. At a time of an unprecedented event, fear of the unknown drives emotional decision making. Here is a graphic which helps understand emotional reactions which are harmful in the long run.
Of course, constrained investors with limited assets should go to safety. However, those who are unconstrained should remember that gains in the market are 90% based on earnings anticipation over the next 12 months. Once the current crisis ends, and it will end, the market will come roaring back.
Try to keep emotions as close to zero as possible while making investment decision. Try out our free PCT Crash Test before acting.