There's nothing you're missing out on by doing this, only the spread of fearmongering by the media. The world is not ending tomorrow, and experiencing your own life is more important than vicariously experiencing all the negative things in the world through the internet.
On the other hand, there are things happening in the world, decisions being made and actions taken, that almost certainly affect stuff you value. This is especially true in your town/county/sub-national political region -- which is why I said "local". It's still not exactly fun a lot of the time, but knowing -- and being able to influence! -- what's going on around you ultimately has more upside than down.
Let's even use Brexit as an example. For the average everyday person in England, brexit is a huge deal. But what benefit is there to the general population to keep up with every twist and turn of political maneuvering? In the end it's important to vote smart. Voting smart can br done via checking up on current events once a week if not once month. Things really do not move as fast as online news and social media will lead you to believe. Brexit is taking years to happen. But if you keep up with the news you might think everyday is the brink of doom or salvation. When in fact the average person has months or possibly years between actionable events.
I've found that keeping exposure to media down to every week or two and mostly reading summaries of events after the fact has helped immensely. It filters out all of the noise you get from live reporting. This helps get down to the facts of what's happened, and allows one to keep a certain emotional detachment from the events and focus on the important things.
It stopped being funny, and now I no longer visit some of those relatives for fear of being mistaken as an intruder and shot when stumbling into their home drunk after a night on the town during an extended visit as a house guest. In the past I would go across the country and stay with some of these relatives for a month or more in a spare room. Now it just doesn't seem safe with them keeping a handgun under their pillows.
One threat is very real, the other is largely nonexistant but portrayed by the media as a growing omnipresent danger.
I only loosely follow mainstream infotainment/moral panics, and mostly for entertainment value. So I totally enjoy missing out on the “let’s all be scared together” vibe.
NB: This sharing would be f2f, since I have yet another JOMO: not being on FB/insta/etc.