The Stock Market Lost 10% of Its Value Last Week

Question 15
Essay

The stock market lost 10% of its value last week. Why is that? It appears that the cause was the closure of the Suez Canal, since that was the only factor that was different from the previous week where stock prices were at record highs. No major oil exporting nations lowered exports, no major refiners were experiencing slowdowns, and no major crises were taking place elsewhere in the world.