A certain amount of fear is healthy. Panic is not healthy,
If you are close to retirement and you need the money you have investing in stock to retire comfortably, there is god reason to be more fearful than if you are young or if you have a have other sources of retirement income, such as a pension.
If you panic you are likely to make some bad decisions. You need accept that there will market corrections and the value of stocks do, at times, fall 20% but normally recover from such losses in less than ten years, If you are closer to retirement you might want to move some of investments out of the stock market into other investments.