Monday, 15 September 2008

Look how mild this is so far

Honestly, this really is not (so far, and I know it is early US time) a big problem. Yet. Yes the FTSE is off nearly 5%, and the S&P is down 2.3%. But that's all. I had expected the equity markets to take this much harder.

Update. It is now close to the close, and the US is still only down 4%. Even 6% on the DJIA would not get into the top twenty all time biggest percentage declines. Today is not a rout.

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