July 25, 2011
Could it be hidden anti-Americanism from those snotty French? The reason for asking is that Europe’s markets were largely flat as NPR was telling listeners that Asia’s markets were down sharply on concerns over default. If there is genuine concern among international investors over the likelihood of default, then we should be expecting to see similar reactions among investors in Europe and Asia. If Asian markets fell while European markets remain nearly flat, it would imply that something other than concerns about U.S. default was depressing Asian markets.
Addendum: The Post had the same story, although this was likely written before the opening of European markets.
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