This is the time when I’m glad I don’t currently hold any shares because, the biggest share tumble occurred amid fears of a recession in the United States. The biggest since 9/11.

The FTSE 100 tumbled a massive 5.5% which wiped £77bn ($149bn) off the value of its listed shares and the Paris and Frankfurt Indexes tumbled roughly 7%. As well as this Asia, India and South America Markets also saw falls.

The problem again lies with the slowing of the housing market and the obvious problems in the sub-prime sector. As many consumers can’t afford higher mortgage repayments which causes the base rates to surge notably in the sub-prime sector. As a result, banks have been tightening their lending policies because, they have lost massive amount of money that is related to the US housing and mortgage markets.

Since the US economy is crucial for many of Europe’s and Asia’s biggest companies, any inclination of a recession markets struggle instantly like this, maybe its time to start to purchase shares.

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