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The worst came with the period of exchange-rate turmoil in 1992-93.
At war's end, American leaders started initiatives that replaced the discredited policies of economic nationalism with new rules and institutions to avert protectionism and exchange-rate turmoil, and to foster expanded international trade and investment.
If financial markets followed the normal bell-shaped distribution curve, in which meltdowns are very rare, the stockmarket crash of 1987, the interest-rate turmoil of 1992 and the 2008 crash would each be expected only once in the lifetime of the universe.This is changing the way many financial firms think about risk, says Greg Case, chief executive of Aon, an insurance broker.
(The real culprits are the strong global growth rate and turmoil in the Middle East).
Like the structural weaknesses in the variable-rate market, turmoil in the auction-rate market should have been a warning sign for the Denver school system and its financial stewards.
But it's too strong because its negative consequences (default, higher interest rates, financial turmoil) are disastrously out of proportion to the behavior it's trying to regulate.
Earlier, five brokerage firms downgraded the stock and Moody's Investors Service cut its debt rating amid turmoil in the home loan market.
At any rate, the political turmoil could hobble the prime minister at the start of a period of intense negotiations, if only by distracting him.
At any rate, there is turmoil within the group: many senior executives departed earlier this year amid cost cuts.There is more trouble coming.
A headline "ECB raises rates" could cause turmoil in financial markets.
Detroit continues to be plagued by high crime rates and financial turmoil that has challenged its police force.
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