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[Article] Top 10 Worst Financial Crises…till now

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  • Root Admin

A financial crisis is one of the most dreaded buzzwords which is heard or read around the world. Either an economy is facing a recession or even a financial crisis or there is a fear that it may be headed towards one, depending on the several macroeconomic indicators.

Let us look at top 10  worst global financial crisis the world has faced so far:

#1. The Tulip Mania of 1634

#3. The Panic of 1797

#5. The great depression 1929

#7. The oil crisis of 1973

#8. The Asian Financial Crisis of 1997

#10. Great Recession of 2007 – 2008

#11. The Mother of All Recessions – 2020 [Bonus 😲]

Read the full article here: https://ten.info/worst-financial-crises/

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  • MrDennis featured and unfeatured this topic
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Financial crisis is the most dangerous thing ever that normally threaeten the global market whenever it occurs. Most businesses normally collapse and may take a long duration to come back to normal. Some even rich a level beyond recovery. The worst financial crisis that affected many nations for a long time, was the oil production crisis.

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A global financial crisis is the most feared, because as the developed countries suffer from losses due to recession, the developing countries suffer more. Bank loan cuts will limit investment, slow GDP, and raise unemployment. Even if any developing country’s financial systems are spared major damage, the fact that industrialised economies are facing a recession is likely to impact them.

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