The Stock Market is a fragile world. The 9 percent slide in Chinese Stocks on Tuesday did send the stocks on Wall Street tumbling 3 percent, the lowest since the 9/11 terrorist attack in 2001. The big question emerging is - Is the party over?
Are the global markets heading for a crash as recessionary tendencies begin to appear on radar screens.
Markets watchers hold that a stock crash is always triggered by a catalyst and here cite that there are signs of a slowdown is the Chinese and American economies. Fears of an interest rate hike in China to cool of heated sectors as well a slowdown in US housing sector are being considered as recessionary trends in the global economy.
Though the slide in the Chinese market has been wrested today but the ripples are still being felt worldwide. The Asian markets have remained jittery all day with the Sensex in India dropping 4 percent, on a day when the national budget was presented in Parliament.
While Ben Bernanke, chairman Federal Reserve Bank has been making upbeat calls about the US economy, his well known predecessor Alan Greenspan paints a gloomy picture. His observation that profits of US companies have begun to stabilize does indicate that it is peaking and a down slide is now expected.
Real fears about a recession setting in has raised the fear index for stock investors globally.
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