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Article: Investors Shrug Off Chaos in Soviet Union; Wall Street Busy With Its Own Crisis at Home
- Article from:
- The Washington Post
- Article date:
- December 15, 1991
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Stock markets around the world collapsed last August when a
group of plotters tried to boot Mikhail Gorbachev out of the
Kremlin. The coup, it was feared back then, would so upset the
Earth's political order that the repercussions would be felt even in
the financial world.
Less than six months later Gorbachev again appears likely to
lose his job. And although the situation in the Soviet Union looks
even more bleak now than it did last August, stock and bond markets
around the world hardly seemed to notice this latest development.
Why do the financial markets suddenly care so little about the
Soviet Union? It seems that the reason, at least in the United
States, is that more pressing ...