Economy

European Markets Rebound

Day after they take major hit.

After two brutal days, U.S. markets may bounce back Thursday if they follow Europe’s lead, where stocks rallied more than 2 percent. Asian markets posted mixed results Thursday, with none of the big indexes dropping more than 1 percent. The main cause for the volatility, says The New York Times, is not so much concern in the U.S. about government debt as it is concern over Europe’s credit markets. "Unlike the 2008 crisis, which began in the United States and spread worldwide after the bankruptcy of Lehman Brothers and the near collapse of the giant insurer American International Group as subprime mortgage defaults surged, today’s situation began overseas,” writes The New York Times. “The mounting fear about European banks’ exposure to sovereign debt is now fraying nerves here.”