MUMBAI: Strange are the ways of the market. At a time when billionaires around the world are counting their losses from the ‘Black Monday’ carnage and governments are looking for every available rule in their books to assuage frail nerves of jittery investors, ‘Shemitah’, a little know Biblical term is keeping marketmen around the world busy.
Video: Shemitah : The Dow Jones falls 888 points in two days while Global Markets Melt (Aug 23, 2015)
Meaning the last year of a seven-year cycle in the Jewish calendar, the end of the past several Shemitahs have brought in immense financial hardships to the world. The biggest Wall Street crash, which was in 1987, happened during Shemitah. The 9/11 terror attack happened a day after Shemitah in 2001 and Lehman Brothers filed for bankruptcy and the subsequent 777-point fall in Dow Jones in 2008 also happened around Shemitah.
September 2015 being another Shemitah which ends on Sunday, September 13, and with the global financial market seemingly on a razor’s edge, people from Wall Street to Dalal Street are tanking up on their knowledge of this event from Hebrew history.
Source: India Times