No longer holding

We are concerned that markets in Asia (Australia included) and Europe have entered ‘crash’ territory; so far the US markets have held back – just. Values are in constant decline, even our own investments. Do we stand firm as the avalanche approaches, or do we join the mob?
We are selling as opportunities present themselves. Equities now represent 45% of the portfolio, down from 70% just six weeks ago. More sales are expected.