Can’t Look Away From Stock Market Crash(es)

This is absolutely riveting stuff. I’m watching CNBC India, where apparently the India markets have tripped the lower circuit breaker and they’ve halted trading for an hour. The talking heads are talking about slashing at wounds and exacerbating blood flow and whatnot so they sound pretty panicked to me.

Strange as it is, Bloomberg US have been running reruns all day during this huge sell-off. But I’ve discovered some other nice media sources, especially for overseas markets. It’s disconcerting to see commentators in India and Singapore all calling for aggressive Federal Reserve rate cuts!

My 5-blocks removed view is that this seems a bit of an overreaction. I’m hearing lots of talk about how decoupling has been discredited. Financially, this is true but I can’t see how economically, conditions have changed so much that over a weekend, the reality on the ground has deterioriated (and I don’t even believe in a full decoupling).

Who knows how the US markets will behave tomorrow morning but it seems smart to be prepared for anything, including an up-day.

PS NOTE:

The Indian market has gone absolutely frenetic. After trading resumed, the market actually recovered over 9% which people took advantage of to sell into it and drag the indices (Nifty Fifty, Sensex, Midcap) back down past their intraday lows. The news anchor is using words like “slaughtered”, “murdered”, “bloodshed” and “mayhem” and he’s reeling off a long list of stocks losing 30-40% in a single day.

One Response to “Can’t Look Away From Stock Market Crash(es)”

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