Christine Ross, an independent financial adviser at SG Hambros private bank, tries to reassure investors who are concerned about plunging stock markets.

If you are already in the market, you really have little choice but to stay put.

It is certainly possible that the market could fall further, but general opinion suggests that whilst we may not already be at the bottom we might be very near it.

The golden rule of stock market investment is to have a wide spread of assets and you need time on your side.

That being said, I would hope that people who have invested in the stock market would remind themselves of their intentions when they first invested, which was most probably to leave their money alone for the medium to long term - or five years minimum.

Patience pays

It is important to remember that it is not just the actual value of assets that is reflected in the share price of the company, but market sentiment.

So it may be of some comfort to remember that the underlying value of a lot of these businesses is higher than their share price actually indicates at the moment.

Do try to stay put and hopefully reap some of the upside reward, even though this maybe a little time in coming.

Bad time winners

There are some stocks which tend to go up during bad times.

These are so-called "defensive" shares, such as food, pharmaceuticals, and utilities - essential things we all need to buy.

For those who are not already in the market, and trying to look at a better return than that available from a bank or building society deposit account, it might be worthwhile looking at fixed interest investments, for example, corporate bonds..

The main rules of investment applies, the most important being to spread your money.

Bond alternative

Corporate bonds are effectively the "private-sector" version of government gilts and they are rated according to the financial strength of the issuer or the institution you are investing in.

It is possible to achieve gross returns in the region of 5.5%, but it is important to remember that the capital value can fluctuate.

In other words, if you need to access the money tied-up in the bond before it matures, you could incur losses.

Investors can buy through a fund, such as a unit trust and you can access corporate bonds through an Isa, which will make your income tax-free.

But for easy accessibility, cash is king. You have to give up that extra, if you need to get hold of your money fast.