Been getting a bit of anxious email over the past 24 hours about Google crawl rates going way down. I am seeing this pattern on a lot of sites I follow so my best guess at the moment is this is either a Google Webmaster Tools reporting issue or a Googlebot issue more than a problem with your site.
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If you are running a wordpress site then I suggest you install my SEO Crawlytics plugin. You can monitor crawling behaviour with it.
Most online marketers don’t understand why this happens but no one bother to tell them about Google’s algorithms and what do they really mean and how does it affect their businesses.
I agree, Don’t Freak Out…produce high quality content and stay away from balckhat link building techniques.
Yousaf, thanks for sharing Crawlytics plugin.