Global sharemarkets are a vibrant scarlet on Tuesday morning as investors around the world sell their stocks to a group of buyers making smaller and smaller bids. The headlines shout about a wipe-out of billions, or even trillions in value. The ASX fell 4% on Monday, and Shanghai fell 8%. Wall Street fell 4% last night, the Nikkei 4.6%, London’s index 4.7%. Tuesday’s trade is in session, and it seems a small share of the losses has been recouped already. But what does it mean to the real-life share investor?
Stocks: hold ’em, fold ’em, walk away or run?
The sharemarket has lost billions. But where does that money come from? And where did it go? And was it even real money to begin with? Economist and freelance journalist Jason Murphy explains.