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Crimea Crisis: The Pin That Bursts The Bubble?

As we have seen, financial crashes can happen very swiftly, and it could well be that the deepening crisis in Crimea is the straw that will break this very fragile camels back.

Economy and Finance

Crimea Crisis: The Pin That Bursts The Bubble?



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European markets are sharply down this morning due to fears of the Crimea crisis spreading. The FTSE (London), CAC (France), and DAX (Germany) have between them dropped just under 7%. The DOW is currently down 1.24% and the Nasdaq by 1.27%.

The FTSE is looking at its biggest fall in eight months. (source)

The Russian Rouble has also hit an all time low against the dollar with the Euro falling 2.5% and 1.5% respectively. MICEX, the Moscow stock market, has fallen 9% since the start of business today.

Jame Hughes, chief market analyst with Alpari UK said in an interview with the BBC:

“We can expect some very sharp moves in the ensuing couple of days as markets and world leaders look to establish just how much of a threat there is not only to stability in the area but stability across Europe.”

“There’s a sell-off of everything right now,” he added.

With the economy being in such a fragile condition it won’t take much to send the financial sector into a downward spiral, wiping billions from the stock markets and triggering the economic crash that many experts have predicted is overdue.

With all attention on Crimea, there is little commentary today on the state of the global economy:

As we have seen, financial crashes can happen very swiftly, and it could well be that the deepening crisis in Crimea is the straw that will break this very fragile camels back.

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Contributed by Chris Carrington of The Daily Sheeple.

Chris Carrington is a writer, researcher and lecturer with a background in science, technology and environmental studies. Chris is an editor for The Daily Sheeple. Wake the flock up!

Chris Carrington is a writer, researcher and lecturer with a background in science, technology and environmental studies. Chris is an editor for The Daily Sheeple. Wake the flock up!

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