ISI SECURITY INDEX IN JULY-OCTOBER 2011: THE SUMMER TENSIONS
The situation on the stock markets remained extremely volatile. Standard & Poor’s lowered the US credit rating, triggering more uncertainty about the repercussions of the situation in the United States for the world economy. There were fears of a double-dip recession in Europe and the United States. Markets were panicking over the plight of the euro, exacerbated by the lack of budgetary and fiscal coordination between the eurozone members and the threat of a Greek default.