Such a market panic may be less likely than a slow cruise to new market heights on QE3, but the market ship may be more Titanic than Queen Elizabeth.
Therefore, I concluded that the market panic had, in fact, created a buying opportunity.
They urged Mr. Lenihan to accept the money and stop the market panic from spreading.
One is that he would rather unleash full-blown market panic than back down and lose face.
Reacting to market panic with panicky rate cuts is likely to make things worse rather than better.
There is little chance of a big turnaround in gold buying until market panic subsides, he predicted.
The new investors, or "fish" as the pros called them, were prone to panic when the market fell sharply.
The other is that market panic can become self-fulfilling, in many different ways.
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This impact, while real, is too small to explain a worldwide market panic.
Despite recent wobbles, Spanish borrowing costs remain comfortably below levels reached over the summer that sparked panic in the market.
The absence of panic when the market fell on Monday, contrasted with the mayhem of 1987, may have reassured many investors.
First, the region's economies face yet another slowdown, even if the worries about Argentina's debts do not develop into a full-blown emerging-market panic.
Recall that the Smoot-Hawley trade restrictions of 1930 turned a stock market panic into a multi-year Great Depression, broken only by World War II.
Arguably, such inertia isn't the worst possible response--at least most retirement savers didn't panic during the market's wild swings and sell all their stocks at the bottom.
The budget deficit is high (8.9% of GDP in 2011), but only a week before the market panic Mariano Rajoy, the prime minister, announced more tough austerity measures.
Look for at least five years of data, and ask for account results from September 2008 through March 2009 to see how the adviser steered through a market panic.
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In an effort to stave off more market panic, central banks in Asia, Europe, and the U.S. have been pumping billions of dollars into financial markets to boost confidence.
Despite tighter fiscal policies, Mexico (see article) and Argentina have been hit almost as hard as Brazil by market panic, with the prices of their bonds plunging to record lows.
If the ECB gives the impression that it will do the minimum to abate the bond-market panic, it would increase the pressure on Italy's politicians to support a reform-minded cabinet and to push through the right policies quickly.
People very frequently make panic sales when the market crashes.
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As I noted in my column last weekend, the Fed seemed to panic after the stock market plunged in August in its worst August in years, as economic reports continued to worsen.
Panic in one big market leads other traders to act like a scared herd of gazelles, running frantically for fear of a lion even if they have no idea what or where the danger is.
People tend to pile into hot funds after a bull market is well under way and to exit in a panic at the bottom of a bear market.
Yet the fact remains: In late 1989 and 1990 the junk bond market was in panic.
Either I'll miss the start of the next bull market or another panic session will unfold.
It could have made a panic low with the stock market, but the volatility is likely to keep many out of this market.
Messrs Paulson and Bernanke so far have saved us from a panic scenario, a 700 market that yields at least 4% and sells at 10 times earnings.
Seventy years ago, on Black Thursday, October the 24th 1929, the world shuddered as 13 million shares were sold on Wall Street, after confidence in the stock market burst and panic took over.
Since Wednesday it appears that a sense of panic has started to grip the market, and borrowers scrambled for liquidity.
After a panic in May, emerging-market debt recouped most of its losses.
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