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"Even a mild downturn on Wall Street causes tremendous problems, and this is much more than a mild downturn," Ms. Wylde said.
The funds in these states are at risk of insolvency even in a mild downturn.
Six months' rule by Alexis Tsipras then turned a mild downturn into a full-blown recession.
The mild downturn hurt tax revenues more than the previous administration had let on.
But if broadly correct, this could be a relatively mild downturn for emerging economies.
The nation's inflation-adjusted gross domestic product has risen for four consecutive quarters following a mild downturn in the first nine months of 2001.
Similar(40)
While some less-developed countries experienced severe depressions, others, such as Argentina and Brazil, experienced comparatively mild downturns.
Figures are scant on the number of debtors or how much they owe, but it is clear that even mild downturns can push millions toward insolvency.
Hiring was weaker in the aftermath of the relatively mild downturns of 1990-91 and 2001, when the unemployment rate topped out at 7.8% and 6.3% respectively.
Other work has focused on lost earnings from mass layoffs, finding that, even in relatively mild downturns, men who lose a job end up with more than a year's lower earnings over their lifetimes than if they had never been part of a large-scale employment casualty.
After two decades in which stocks suffered only brief and mild downturns -- interruptions in profitable years -- the depth of the bear market has shocked many investors, especially those who were not shareholders in the 1970's, the last time stocks endured a prolonged setback.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com