Black month. by Barbie Kunkelova

Charles Stanley's economist and strategist Edward Menashy confessed to the public about his concerns about the recent world's stock exchange numbers. His fear might be caused also by the fact that today is October 23rd, that means still a month that usually brings market crisis along. Since the first market crash in the US in 1819 when bank failures, unemployment, foreclosures and decrease in manufacturing and agriculture, there have been far too many crashes. Majority of them happened in autumn. Black Friday of 1869 & in September. The Wall Street crash of 1929 & Black Thursday, Black Tuesday, both were in October. Black Monday of 1987, which was also just an "ordinary" October day. Black Wednesday of 1992 & September. 9/11/2001 crash & obviously, also hit the markets (especially the tourism-oriented parts) in September. 2002's October is also famous for a downturn. To sum it up, Septembers and Octobers are a threat for all businessmen, with the exception of the suppliers of Halloween items. Menashy says the only solution is to keep faith and wait for the Christmas season. And that is why Tesco's windows are full of sparkly Christmas trees and chains in mid-October. This year's autumn is no different. According to Reuters, the FTSE (Financial Times Stock Exchange) index fell down by 68.6 points to 6,459.3 on Monday, October 22nd. It reached its lowest level since October 1st. Major US, Asian and European indexes fell. In UK, miners were the standout losers, oil prices increased rapidly throughout the whole world and last, but not least, banks on the FTSE list lost many points. Some had to join bigger banks in order to rescue the customers with short-term liquidity problems with US Federal Reserve money. Well, what else is there during such times than hoping for better days?

related story: http://uk.news.yahoo.com/rtrs/20071022/tuk-uk-markets-britain-stocks-fa6b408_9.html

by Barbie Kunkelova for PocketNews (http://pocketnews.tv)

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