1,000 Point Market Swings: The Evolution of Interdependence
The Dow Jones Industrial Average (Dow) swung nearly 1,000 points last week, according to Daily Finance. On Monday, May 17th, the Dow reached a daily high of 10,760.50 while bottoming at a daily low on Friday, May 21st at 9,860.93. The Dow is closely followed by many as an index representing the overall trend of the New York Stock Exchange (NYSE). The recent volatility in the market has to raise questions as to the type of events which have made two hundred point swings in closing prices a norm. Of late, the Greek debt crisis and the uncertainty of the Euro have to be at the top of the list. Events such as the riots in Greece which have caused dramatic shifts in the stock markets across the globe can be seen as the prime example of where the world of business has been heading.
Global business is redefined each time chain reactions like this occur as countries are now, truly, interdependent. In a recent article in The Wall Street Journal, Market Watch writer Gregg Robb says, “President Barack Obama wants to double U.S. exports over five years and China is a locomotive that can pull the global economy out of its deep recession.” As yet another indicator of the world’s interdependence, analysts are suggesting America’s problems will be relieved through China’s actions. The challenge for America, as she adapts to business in the global environment, will be finding the balance between domestic and international solutions. While current events and decisions from other countries should be a factor in America’s plans to reach a healthy economy, the public and the United States as a whole need to be weary of its overreaction and strength of influence from other countries. The avoidance of these two missteps can only come with the evolution of global business and a better understanding of the true interdependence each country has with one another.
Thanks to [Flickr](http://farm4.static.flickr.com/3229/3051500551_b1fc3d3fe0.jpg) for the photo.
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US can count on India.
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