Pánico takes place in 3 parts.

The first part has an attractive, nightgown-clad young woman fleeing through the forest with a witch in hot pursuit who's brandishing a very sharp knife

The second part has two men fleeing a plague of some sort. They've just buried a young woman and have decided to leave the area by getting into a canoe and paddling down the river. Before long, however, the mind of one of the men starts playing tricks in regards to the woman they buried.

Segment #3 has to do with a scientist and his cat who both ingest some chemicals by accident. This liquid gives the victims the appearance of being dead, but we quickly discover the scientist and the cat are merely paralyzed. But the scientist's wife and the family doctor can't find a pulse or heartbeat when they discover him. What to do? Have a funeral and bury the unfortunate scientist.