Evidence indicates not every market crash lowers spending

Article Abstract:

The issue of whether share price declines lead to economic difficulties is discussed. It is argued that the current stock market slump will not necessarily bring significant negative wealth effects.

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Hong Kong crash sparks world-wide sell-off in markets

Article Abstract:

There has been considerable nervousness on stock markets around the world, prompted by a fall in shares in the Far East. The most serious decline, at more than 10%, was in Hong Kong. Japan's Nikkei index fell by 3%, with Wall Street being more than 2% lower very shortly after opening. Investors have responded by moving to bonds, thus pushing down long-term yields on gilts and US Treasury bonds. Some analysts see the collapse of the Hong Kong market as more serious than the 1987 crisis.

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