Opinion: The financial markets almost seized up a year ago — it’s time to finally make fixes

Opinion: The financial markets almost seized up a year ago — it’s time to finally make fixes

The financial markets — stocks, bonds, commodities and options — are more interconnected globally than they’ve ever been.

That’s because of growing international trade and cross-border investments, and highly liquid, nimble capital markets. As one part of the world sneezes, the rest of the world catches a cold almost instantaneously.

This cascading risk is what the U.S. and worldwide markets faced in March 2020 with a rapid decline in asset values — stocks
SPX,
-0.31%,
bonds
TMUBMUSD10Y,
1.612%
and even gold
GC00,
-1.24%,
all at once — that led to the precipice of a systemic meltdown.

Fortunately,…

Read More from www.marketwatch.com

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