The recent turmoil in the worldwide economic markets has worried many investors. Though US markets have shown comparatively strong performance recently; concerns still exist, whether the effects of these economic imbalances can reach US. Bank of America Corp (NYSE:BAC) Merrill Lynch has reviewed the conditions of Greece, Puerto Rico, and China, and believes that there is a very little chance of US markets being affected by the events. Bloomberg was the first to report the news
Bloomberg noted that value of MSCI Greece Index has fallen even below than Bed Bath & Beyond Inc. (NASDAQ:BBBY), while the bonds sold by Puerto Rico have reached the Credit default swap (CDS) of 3,868.
He also said that decline in Shanghai stock in the past 10 days, has been greater than the market cap of Germany’s Dax index. The stocks have fallen 20%, which has resulted in huge losses for investors, amounting to almost $1.2 trillion, which is equal to the GDP of Mexico.