You've heard it before: Just because everyone else is doing it doesn't mean you should.
And that adage applies to the current stock sell-off, according to financial advisors. Panicked selling will likely be a big mistake.
That is because that decision will likely be based on emotions, according to Douglas Boneparth, president and founder of Bone Fide Wealth.
"Even if you're proven to be right, you're still going to have an extremely hard time getting back in," Boneparth, a certified financial planner, said. "No one ever does that at the right time."
There are some things to keep in mind in this new market environment.