Global markets in crisis: Top 5 must read stories
Here are Chartwell’s top 5 news items covering falling world markets today:
‘Six words that started the rout’ – Ian King, The Times’s business editor, takes us through a blow-by-blow account of the hours running up to the crash in world markets, on what could be a crucial day in the history of the common european currency.
The Guardian’s economics editor, Larry Elliot, asks, ‘there was the stench of panic in the air again on Thursday. Are we heading for Meltdown 2?
In contrast to the Financial Times’s headline this morning (‘Stock markets plunge worldwide’), over at the Lex Column there is a characteristic call for calm and careful analysis: ‘The likelihood that billions will be pulled out of stock funds just illustrates that the stock market is the only one in the world where customers run away during a sale’.
Hamish McRae, in the Independent, offers a great analysis of the meaning of the current turmoil in relation to the US dollar, and its relationship with Asian currency, particularly the Chinese yuan and the Indian rupee.
As markets plummeted yesterday, Gordon Brown penned a comprehensive piece in the Huffington Post on the failure of European leaders to agree a coherent and reflexive economic strategy for the eurozone.
N.B. Although taking our must read-list to six, Robert Peston‘s excellent post at the BBC, ‘The origins of today’s market mayhem’, is not one that can be neglected.