I don't think it is a new phenomenon. Insanity is just part of human nature. In his book "The Intelligent Investor" Benjamin Graham constantly refers to irratio

I don't think it is a new phenomenon. Insanity is just part of human nature. In his book "The Intelligent Investor" Benjamin Graham constantly refers to irrational "Mr. Market". The book was written in 1949. Go back even further in time and find Dutch going crazy over tulips. And so on. The best advice I have ever been given: Just ignore the market noise. Invest in a broad ETF and stay in for as long as you can, don't look at your balance until then (which I still do).