Mark down Oct. 6 as another dark day in the financial markets as the Dow tumbled below 10,000 for the first time since 2004. Only this time, the U.S. financial markets weren’t alone — the European index saw its largest drop ever, falling some 7 percent.

The Russian market was hit the hardest plummeting nearly 20 percent, according to a story on MarketWatch yesterday, as the Russian market even saw trading suspended at times during the session.

According to various financial reports, the Bush administration’s $700 billion rescue plan won’t unlock the frozen credit markets quickly enough. News of that financial paralysis sent the global markets into panic mode and a selling frenzy.

In efforts to quell fears, President George W. Bush spoke about the financial news yesterday, saying we have to be patient as “it’s going to take a while” for confidence to pick up. As for the bailouts, it could take up to six weeks for money to start being dispensed to financial institutions.

It’s hard to find “good news” in times like these, but there could be some silver linings in the insurance industry. I’ve had numerous conversations with industry insiders over the past couple of weeks and the common thread I’ve heard is this: There’s never a better time than now to talk with your clients. There’s uncertainty and fear about what’s going on and this is the time when they most need your insight, the time when they most need your expertise and guidance to help carve out their retirement plan.