I will answer generally because I don’t know your time-frame or goals.
In the very short term (1–6 weeks) the market will likely bounce 5% or more. The reason is, technical and physiological indicators are reflecting extreme fear.
Volatility in the overall market is high but in individual stocks the implied volatility is simply astounding. The way to benefit from that is to identify a company you want to own 100 shares of, and write a put against it for a strike price 5-10% below the share price. Basically you are getting paid for mispriced expectations. (The higher the volatility, the higher the premium collected)
Lastly, is this a good buying opportunity? I don’t and won’t advocate for anyone to buy “the market” but because you asked, ill answer. In the SPY and the QQQ you are probably fine for very short term but over the coarse of the next year or more I’d say that the market has significant downside or at a minimum being flat. Many reasons for that but the biggest is that 5 companies represent an outsides proportion of the I dex and they are all WAY overvalued.
Buy 5 good, profitable, growing companies and don’t pay over a 15 PE ratio… under those guidelines, everyday is a good buying opportunity.