You can read about this in various psychological texts...
... usually under topics such as "stress," or "fight or flight reaction."
Great stress tends to produce tunnel vision; it can also reduce hearing. This is one reason why, when flight students get panicky, it can be very hard for instructors to get their attention.
This is also why learning to relax under pressure is a very useful thing in any number of endeavors.
Cheers,
M
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