A day of precipitous declines on international stock markets was further proof that investors will have to live with dangerous volatility for the foreseeable future despite the promise of politicians and the best hopes of optimistic investors and economists.
Fears that political obstacles will force Greece into a debt default and derail a settlement of the Eurozone financial crisis at a summit of the Group of 20 nations, as well as an unexpected slowdown in Chinese manufacturing and the bankruptcy of US futures broker MF Global, prompted skittish investors to get out of the markets.
Corzine wagered $6.3 billion of MF Global Holdings’ own
money on sovereign European debt in a bid to increase profits.
Image Credit: AP
Heavy equipment manufacturers prepare their products to
show at China Coal and Mining Expo 2011 in Beijing.
Image Credit: EPA
Activists of Oxfam France dressed as the G20 leaders on a
fake red carpet at the Petit Palais in Paris on Monday.
Image Credit: AFP
