The FTSE plunged to its lowest level in a year on Tuesday morning, after a global stock sell-off hit markets across the world overnight.

European markets in Frankfurt and Paris opened down around 3 percent, after seeing Japan’s Nikkei index close down over 4 percent and the Dow Jones lose 4.6 percent of its value.

The FTSE followed suit upon opening on Tuesday, trading down 1.98 percent at 0830GMT and continuing to fall. Every share in the FTSE 100 has taken a hit.

The sell-off began after positive US jobs data showed the Federal Reserve may need to consider borrowing rates faster than previously expected.

It is worth remembering, however, that despite the UK’s uncertainty the FTSE had a strong year last year, gaining 7.6 percent. It has been over a year since a fall of 3 percent, and it may just be a sign that the markets are calming slightly after a period of strong performance.