This Element is an excerpt from "The Fearful Rise of Markets: Global Bubbles, Synchronized Meltdowns, and How To Prevent Them in the Future" by John Authers. Available in print and digital formats.
Why markets are more synchronized than ever before--and why that's so terrifying.
World markets are synchronized, and far more prone to bubbles and meltdowns than ever. "Why?" In March 2007 I realized the world's markets held each other in a tight, deadly embrace. One Bloomberg screen showed minute-by-minute action in the S&P 500. Then I called up a minute-by-minute chart of the yen's exchange rate against the U.S. dollar. The chart was identical. "What was going on?"
This Element is an excerpt from "The Fearful Rise of Markets: Global Bubbles, Synchronized Meltdowns, and How To Prevent Them in the Future" by John Authers. Available in print and digital formats.
Why markets are more synchronized than ever before--and why that's so terrifying.
World markets are synchronized, and far more prone to bubbles and meltdowns than ever. "Why?" In March 2007 I realized the world's markets held each other in a tight, deadly embrace. One Bloomberg screen showed minute-by-minute action in the S&P 500. Then I called up a minute-by-minute chart of the yen's exchange rate against the U.S. dollar. The chart was identical. "What was going on?"