In the last week of October 1997, the major stock markets suffered a sharp fall in share prices. It started in Hong Kong, moved to Japan, then to Europe and then on to America.The fall moved in succession, from one country to another at the start of the day in each country. The sharp drop was coupled with a frenzied panic from a possible repeat of October 1987, when the Dow-Jones Index in New York dropped by 22% in one single day, or even worse, a possible repeat of what happened in 1929, when the collapse in the value of shares in America…
In the last week of October 1997, the major stock markets suffered a sharp fall in share prices. It started in Hong Kong, moved to Japan, then to Europe and then on to America.The fall moved in succession, from one country to another at the start of the day in each country. The sharp drop was coupled with a frenzied panic from a possible repeat of October 1987, when the Dow-Jones Index in New York dropped by 22% in one single day, or even worse, a possible repeat of what happened in 1929, when the collapse in the value of shares in America…