Market volatility in 2015 will go wild
by Egon von Greyerz – Jan 16 2014
On January 15, the Euro lost 30% against the Swiss Franc and the Dollar lost 25% in a few seconds. All stops in the market will have been triggered at the maximum loss level. At the end of the day the decline settled at around 15% for both the Euro and the Dollar.
Many hedge funds will have made considerable losses and also several banks. One Forex broker at least went under and several will have suffered irreparable losses.
Although this event was not major enough to shake the world it will be another nail in the coffin of the vulnerable financial system, as well as a sign of the exponential rise we will see in volatility and market failures during 2015.