Despite not so really strong fundamentals, markets rallied heavily over past 9 months due to excessive liquidity, low interest rates. Stocks were in favour because lack of other opportunities in other instruments.
Finally, Dubai credit crunch would trigger the much awaited correction in equities. Let us see, how far this new story would develop and affect the prices.
As i say, in good bull markets, bad news will get ignored. In uncertainty, even a little bit of bad news would cause havoc to stock prices. We rallied heavily and were waiting for some excuse. Here it comes !!!
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