The US stock market suffered a massive loss overnight, recording it’s largest single-day decline in history.

At one stage, the Dow Jones was down by almost 1,600 points before it rallied to finish down 1,157.

In response, the Australian Stock Market fell hard, wiping $57 billion off the Aussie market.

Ben Fordham speaks with Scott Phillips, Director of research at The Motley Fool, who is advising people not to panic.

“The bad news, if you’re looking forward, is the US futures overnight is also showing more signs possibly of a 4-digit fall.

“First thing, make sure you put it in context. Second, don’t panic. If you liked the company you invested in on Friday, there’s no reason you shouldn’t like it today.”

Listen to the full interview below