Hello all, financial advisor here. Just wanted to provide some insight in hopes of helping anyone here avoid making big (and unfortunately COMMON) mistakes with their 401(k)s or other investments. I know many of you may be too young for this to be applicable, but I also know that there are many of us here who are adults working full time jobs and so I hope this info is relevant.
In short, DON'T HIT THE SELL BUTTON. Just don't do it. That's the worst financial decision that one could make with their 401(k) right now.
If you already hit the sell button, HIT THE BUY BUTTON. Markets on discount right now and are likely cheaper than when you hit the sell button, so you can still turn that bad decision into a profitable one. Dropped 10% today. Ride this out. The reason that a lot of people lost money in 2008 is because they didn't have someone like me to tell them not to sell, and they got scared, and made a decision based on that fear to sell, and it cost those individuals a gross amount of money. Remember, buy low, sell high.
If there are questions and this info is actually applicable to people here and you would like me to elaborate on this, please let me know and I'll go into much more detail explaining this. Until then, I won't bore you with explanations and graphs.