TAIPEI: Few things evoke fear in equity markets like a margin call. On Wednesday that fear turned into panic in Taiwan, offering another warning for the world on what can happen when leverage unwinds.
The trading day started out quiet in Taipei’s $2 trillion stock bourse. But before the morning was over, the local stock benchmark had plummeted almost 9% in the worst one-day performance in the gauge’s 54-year history.
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