8/5/2011

Investors drove down equity indices worldwide because of concerns that Europe's debt crisis is spreading and global economic growth is cooling. Investors sold off commodities and stocks in favor of cash and government bonds. "The move to cash is symptomatic of a broader concern about growth and the stock market," said Mike Ryan, chief investment strategist at UBS Wealth Management Americas. "It's all part of a generic de-risking exercise."

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