many people are asking about the after-effects of the s&p downgrade of the US credit. valid concern, but one wonders about the before-effects, in terms of what happened in the markets last week.
in particular, last thurs the stock market took a sharp dive with nary a noteworthy financial or political news. it was attributed to general panic reaction to uncertainty.
is it possible that this was a actually a specific panic attributed to a certainty that bad news was coming? the s&p downgrade was announced only the next day. it sure seems like some people knew.