Detail Grey Tuesday   Oleh:  The Economist Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 382 no. 8518 (Mar. 2007), page 73. Topik: Stockmarket; Wall Street; Traders Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.50 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel IT WAS almost inevitable something bad would happen. Barely a ripple had disturbed the smooth surface of financial markets since May last year. But on February 27th share prices were suddenly hit by a wave of selling. It is always possible to find plausible reasons for a sudden stockmarket fall after the event—less easy to pick them beforehand. The immediate catalyst for this week's troubles appeared to be a near-9% fall in the Chinese stockmarket, itself triggered by stories that the authorities were about to clamp down on speculation. But the truth is that investors were simply looking for excuses to take profits. A decline looked overdue. Wall Street had enjoyed its longest period without a 2% daily fall for more than five decades. Margin debt—the money sharebuyers borrow from brokers—had just passed its previous peak, recorded during the dotcom bubble. Risky assets, from high-yield corporate bonds to emerging-market debt, were offering historically low yields. When it came, the sell-off was dramatic. At around 3pm New York time on February 27th, the Dow Jones Industrial Average was down by a couple of hundred points. In less than a minute, it plummeted another 200 points—a rate of decline that traders said was unprecedented. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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