Floor plan financing in the auto industry

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Accounting and Finance


In Spring 1997, currency turmoil erupted in Southeast Asia. This currency crisis, in turn, triggered the market rout on Wall Street on October 27, 1997. This article discusses interlinked capital markets, the potential impact of Asian currency crisis on the US economy, and trade-halting rules. How Hong Kong's market caused a global stock-market turmoil October 27 is explained. How an economic crisis in an emerging economy such as Thailand spread throughout the world is discussed. The potential impact of Asian currency crisis of 1997 on the US economy is described. The "old circuit breakers" are compared with the "new circuit breakers." And the effectiveness of daily price limits or US circuit breakers is discussed.

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