Some are even convinced that markets are finally responding to "unsustainable global imbalances" -- symbolised by record U.S. deficits and Asian surpluses. But as we are all, too aware, markets do over-react from time to time. We hope that calm will soon return for there is a lot of value out there.
Oil prices, property prices and inflation do not only pose dangers to the US economy but certainly pose significant dangers to many other countries including our own.