Is the “Ghost Month” to blame for the recent rollercoaster ride in stock markets around the world? During the first two weeks of August, stock markets worldwide had a freefall, went back up again, slid again, then back up once more.
The Dow Jones Industrial Average (DJIA), for example: plummeted 4.31% on August 4 after credit rating agency S&P downgraded the United States declined 5.5% more on August 8 bounced back 3.98% on August 9 fell another 4.6% on August 10 but rose 3.9% on August 11 And it’s probably just starting.
U.S. stocks were not the only ones in a whirlwind these first weeks of August. As seen in the chart below, stock exchanges in the UK, Korea, Hong Kong and the Philippines all went through a crazy round of market volatility.
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