The euro dived sharply in the last couple hours, and some seem to be attributing it to comments from Joe Stiglitz about the currency union not surviving and the devastating effects of austerity.
Hopefully this isn’t what’s hurting the market, because if it is, the market is messed up.
Stiglitz has been negative on Europe and austerity for ages.
The only new thing, it seems, is that he’s coming out with a new edition of his book, which has some commentary about about Europe being in trouble.
Hopefully this is just an example of people trying to connect a story to the market, without any actual basis for this.