The third quarter of 2011 saw a big sell-off in shares. The European markets were hammered as investors worried about the continuing euroland problems.
The US market fell sharply as people fretted over slowing growth and the disagreements between Republicans and Democrats about how to tackle the deficit. The Chinese market fell as commentators pointed out difficulties with local authority debts, and asked whether the Chinese authorities were overdoing the action to slow their economy. For some of the quarter, the gold price surged as people afraid of more money printing, and inflation sought a traditional store of value. More recently, gold too fell sharply, with holders selling to take profits or to gain liquidity to deal with ot...
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