Business publications especially are still suffering, since their advertisers were among the first to take fright and remain nervous.

ECONOMIST: Green shoots or warning shots?

In thinly traded markets, bond prices can suddenly shoot up if only a few investors take fright and start selling.

ECONOMIST: Return of the euro crisis

She too would have had to thread her way gingerly among the pot holes no doubt frightened that her donkey might take fright with all the shouting and shoving.

BBC: Seeing chaos at Christmas

But others, such as Robert Rubin, a former treasury secretary, warn that the financial markets, looking forward to deficits as far as the eye can see, may take fright.

ECONOMIST: Blaming everyone but themselves

Japan seemed to take fright.

ECONOMIST: Banyan