Nifty-50 PE
Global equity markets are on a shaky ground since the start of this year. Easy monitory policy (easy/cheap money) that caused the markets to go up since 2009. And now it is the revisal of that policy which is causing markets to go down.
What ever happens we dont have any control on it. The only control you as a investor have is to follow your asset allocation.
Nifty 50 PE map from 1992

Highlighted in Red color are PE values over 25 and Green are PE values below 20.