The surge in coronavirus cases outside of China has triggered a global sell-off as investors sold riskier assets and sought safety in government bonds, gold and defensive stocks. The S&P 500 just wiped out about US$1.737 trillion of its value during its two-day market sell-off, according to the S&P Dow Jones Indices, as investors reacted to the possibility that global economic growth could be hit as South Korea, Italy and Iran report more cases.

Markets are in the red but investors who panic usually end up worse off. Think about it. Have you ever made an investment decision you came to regret? Perhaps you sold some stock during a bout of market volatility, only to see its stock price rebound shortly after the volatility passed.

As fears around the COVID-19 virus rages on, it is easy to succumb to the emotional and cognitive biases that push us to make less-than-perfect