Four by Miles Klee
ECENTLY, an economist, long considered a future Nobel laureate, proposed a curious codependency between two major stock market indices—the Nikkei 225, based in Tokyo, and the Dow 30 in New York. It appeared the Dow, closing at 4 p.m. Eastern Standard Time, unduly or “irrationally” influenced the open of the Nikkei three hours later, at 9 a.m Japan Standard Time. ...READ MORE