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The Markets Fear a Fresh Disaster – The Telegraph

08/20/2011

August is traditionally a quiet month on the stock markets. With many traders away on holiday, the volume of business tends to be low and a late summer torpor descends upon the City of London, Wall Street and other financial centres. Not this year. The turbulence of the past few weeks, which have witnessed the biggest falls in equity prices since the financial crash of 2008, is especially worrying because it is so unusual. Fear has gripped the markets: fear of another recession; fear of an unresolved crisis in the eurozone; fear of a further banking debacle – fear, in short, that the calamity that was staved off by concerted international action three years ago is about to hit at last. We have had the earthquake; now for the tsunami.

Read More at The Telegraph.

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