The Greenspan Domino Theory

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And so the fallout continues. Once again, dour comments by Federal Reserve chief Alan Greenspan on the state of the U.S. economy have touched off a world-wide spate of panic selling, reports Money Daily. Southeast Asian markets were the most affected, with Hong Kong's Hang Seng index dropping 4 percent and Japan's Nikkei falling nearly 250 points. The bulls were equally spooked in Europe - Germany's DAX and Britain’s FTSE were sinking slowly early Thursday. All this on the back of Greenspan expounding a very simple economic truism: higher employment means higher wages and higher prices. What on earth would happen if he ever said something really bad?

What Makes Greenspan Tick? (Money Daily)

For the full market roundup, click on today's Money Daily

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