What Is A Stock Market Crash? Definition And Causes
This resulted in a number of bank failures in Europe and sharp reductions in the value of stocks and commodities worldwide. The failure of banks in Iceland resulted in a devaluation of the Icelandic króna and threatened the government with bankruptcy. Iceland obtained an emergency mortgage from the International Monetary Fund in November. In the United States, 15 banks failed in 2008, while a number of others had been rescued through government intervention or acquisitions by different banks.
A report drop was seen, and the Dow Jones dropped more than 10% in a single week. Stock markets around the world…