"You've got a weak economy, the aversion of a debt crisis but not a solution, and you've got the rest of the globe starting to implode in a lot of areas, especially Europe," said Barry James, president and chief executive of the James Advantage Funds. "It's natural that people would react with fear."Wall Street Journal.
August 4, 2011
"... as investors appeared to lose faith in the ability of the world's policy-makers to revive the global economy and stave off a rolling debt crisis in Europe... Investors across the globe have been buffeted by economic and political turmoil in recent days. In the U.S., fears have turned from worries about a possible default by the U.S. government to a weakening economic outlook."