Some argue that what affected Wall Street could easily become contagious in the Mumbai stock market too.
The stock market has already been hit. It was 22,000, now it's already 10,000. India like all other major markets is tracking the Wall Street.
But earlier if US sneezed, the rest of the world got pneumonia. Now, if US sneezes, the others also just sneeze. This is the difference.
So, you believe if India gets a cold even after a few sneezes, it can withstand this cold and get rid of it?
Yes, because when it comes to investing or taking a forward step, India is very slow as I told you. So, that gives the government the opportunity to take a U-turn when there are such crises.
Image: The Bombay Stock Exchange | Photograph: Getty Images
Also read: Indian banks capitalise on Wall Street crisis
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