Panic in the markets and will there be a new “Black Monday?” Fundamental and corporate reviews
Stock reviews
• The selling sprint led to trading halts in several markets, including the Topix and KOSPI, while the Nikkei fell a daunting 7% at one stage. The index is now in bearish territory, down 20% from its peak less than a month ago.
• Investors are hoping central banks will come to the rescue with a global version of the Fed put option. Futures now imply a 73% chance the Fed will cut rates by 50 basis points in September and a total of 115 basis points by Christmas. Rates are expected to reach around 3% by the end of next year.
• Markets have priced in another 74 basis points...