17 Scary Numbers From the First Quarter
There were plenty of disconcerting statistics during the last three months.
The first part of 2013 was generally a good one for stocks. The broad-based Morningstar US Market Index rose 11% on the back of policy progress in Washington, the Federal Reserve's accommodative status, and some positive economic signs. But not all of the data and signs were rosy. Every quarter, I take a look at some scary numbers that jumped out at me. Here are some notable ones for the most recent three-month period.
6.7%: "Tax" that was to be levied on all deposits of less than EUR 100,000 in Cypriot bank accounts under the terms on the initial bailout agreement agreed to in March. Although the bailout terms were amended to spare smaller depositors, the deal sent a wave through the global markets. Investors were fearful that the agreement would be used as a template in other peripheral countries, causing depositors to move their money to safer banks and bringing further instability to the European financial system.
Bearemy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.