Business Media Continues to Blame Europe for Market Movements
Headlines like “Fear Returns To Markets As Europe Worries Escalate,” “Euro clouded by Greece and Spain worry” and “Markets dragged down by Greek worries” have become all too common within the past couple years. But are these so-called European worries really driving market downturns, or are they news sources’ go-to explanation when no others are immediately obvious?
What is even more interesting is that many news sources are quick to pin market upturns on Europe as well, with headlines such as “Asia stocks rise as Europe shockwaves fade” and “US Futures Climb Amid Upbeat Jobless Claims Data, European Optimism.” Rarely, if at all, do these articles cite measures of European worries or optimism other than financial market movements.
One might believe that these sources check if markets are up, down or flat for the day, then relate global market moves to either European worries or European optimism, accordingly. This brings about the popular phrase “Hindsight vision is 20-20.” News sources can easily relate market movements to European events after the fact.
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