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A moveable glut looking for new bubbles

A specialist trader is reflected in a screen at his post on the floor of the New York Stock Exchange, on Aug 21, 2015.

WHAT caused Friday's stock plunge? What does it mean for the future? Nobody knows, and not much.

Attempts to explain daily stock movements are usually foolish: a real-time survey of the 1987 stock crash found no evidence for any of the rationalisations economists and journalists offered...

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