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The 2020 stock market crash was a major and sudden global stock market crash that began on 20 February 2020 and ended on 7 April. The crash was the fastest fall in global stock markets in financial history and the most devastating crash since the Wall Street crash of 1929. The crash, however, only caused a short-lived bear market, and in April ...
In effect, the strength of the U.S. dollar and sanctions on energy commodities have contributed to global inflation in 2022. [ 160 ] An analysis conducted by Politico in May 2023 found that in the United States, wage growth for the bottom 10th percentile of the wage scale beat inflation by a strong 5.7% from 2020 through 2022.
A global issue is a matter of public concern worldwide. This list of global issues presents problems or phenomena affecting people around the world, including but not limited to widespread social issues , economic issues , and environmental issues .
Some financial crises have little effect outside of the financial sector, like the Wall Street crash of 1987, but other crises are believed to have played a role in decreasing growth in the rest of the economy. There are many theories why a financial crisis could have a recessionary effect on the rest of the economy.
The cause of the global asset bubble can be partially attributable to the global savings glut. As theorized by Andrew Metrick , the demand for safe assets following the Asian Financial Crisis coupled with the lack of circulating treasuries created an unmet demand for "risk free" assets.
These events called to attention financial integration, inadequacies of global governance, and the emergent systemic risks of financial globalization. [ 65 ] : 2–9 Since the establishment in 1945 of a formal international monetary system with the IMF empowered as its guardian, the world has undergone extensive changes politically and ...
The term "contagion" was first introduced in July 1997, when the currency crisis in Thailand quickly spread throughout East Asia and then on to Russia and Brazil.Even developed markets in North America and Europe were affected, as the relative prices of financial instruments shifted and caused the collapse of Long-Term Capital Management (LTCM), a large U.S. hedge fund.
At the international and national levels, however—as Helmut Ettl, head of the Austrian financial market authority, said—there is no reliable empirical data to gauge the ongoing effects of the COVID-19 disease on the economy and the environment, as this type of crisis is unprecedented. Companies that were already financially weak before the ...