Emotions integral to a task are often adaptive, particularly in situations where outcomes and probabilities are not known. However, decisions are also influenced by emotions that arise from situations unrelated to the task. This is especially the case with negative emotions like fear and anger, which also tend to be accompanied by ruminative thinking that might divert decision‐makers' attention from the task at hand. In two preregistered experiments, we show how self‐distancing regulates the influence of incidental anger (vs. fear) on decision‐making under uncertainty. Participants recalled and reflected on a fear‐related or anger‐related event from either a self‐immersed or self‐distanced perspective. Next, they completed a task that is commonly used to measure affective decision‐making under uncertainty, the Iowa Gambling Task. The results in both experiments indicated that self‐immersed angry (vs. fearful) decision‐makers were significantly slower to avoid the risky, disadvantageous decks. These findings demonstrate how the ways in which we process negative emotional events shape their carryover effects in decision‐making under uncertainty and point to self‐distancing as a potential tool to control incidental emotional influences.