Selling Frenzy Grips Markets as Traders Tally Losses From Rout
Finding the Silver Lining in This Stock Selloff
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On Mirabaud Asia Ltd.’s Hong Kong trading floor, stockbrokers sat in quiet disbelief. At Vunani Private Clients in Johannesburg, calls from worried investors came in thick and fast. In Mena Corp Financial Services LLC’s Abu Dhabi office, traders canceled vacation plans.
“The situation is terrible and there’s a lot to be concerned about,” said Nabil Rantisi, managing director of Abu Dhabi-based Menacorp, the biggest brokerage by value traded in the United Arab Emirates. “It feels like it’s judgment day. I’ve spent my entire holiday working.”