What to do in this kind of volatile market: I think we need to remain calm and not panic, cause the last thing we want to do is trade with our emotions. And that can be disastrous. When we enter a position, we must predetermine our risk and reward ratios (stop loss). If the stock we're holding doesn't reach our selling point than we should stay on course and neglect all the bad news around us.
It's difficult to time and predict which direction the market will move daily. And we can't be trading on news especially if there are always going to be good and bad news every day. We should invest and trade on a longer time frame and stick to our trading rules, and not trade on our impulses.