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Hiccup? Or Global Meltdown?
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Currencies and stock markets
The crisis began last summer, when Asian stock markets plunged and currencies were devalued
PERCENT CHANGE, JULY 4-DEC 19, 1997
CURRENCY STOCK TO U.S. MARKET DOLLAR South Korea -49.0% -65.9% Indonesia -48.6 -106.0 Thailand -41.0 -56.0 Philippines -32.7 -48.0 Hong Kong -29.8 -0.1 Japan -23.0 -14.0 United States -1.8 n.a. Germany 3.6 -1.3 Britain 4.9 1.0 Mexico 6.5 -2.1 SOURCES: DEPARTMENT OF COMMERCE, INTERNATIONAL TRADE ADMINISTRATION; BLOOMBERG; IMF.© 1997
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