Is the “Ghost Month” to blame for the recent rollercoaster ride in stock markets around the world?
During the first two weeks of August, stock markets worldwide had a freefall, went back up again, slid again, then back up once more. The Dow Jones Industrial Average (DJIA), for example:
- plummeted 4.31% on August 4 after credit rating agency S&P downgraded the United States
- declined 5.5% more on August 8
- bounced back 3.98% on August 9
- fell another 4.6% on August 10
- but rose 3.9% on August 11
And it’s probably just starting.