Wall Street's enthusiasm for war to be tested.

Australasian Business Intelligence, March, 2003

Mar 23, 2003 (The Australian Financial Review - ABIX via COMTEX)

Sharemarkets across the world are to see an eight-day positive momentum clash with volatile sentiment. A senior analyst with Commonwealth Securities, Craig James, says that volatility will prevail in the week ending 28 March 2003, as markets are driven by news from the war in Iraq. The chief economist with Morgan Stanley, Stephen Roach, says that even a "perfect victory" will not necessarily translate into good economic conditions. A research director at Thomson Financial First Call, Chuck Hill, said the "victory rally" may have been premature, as economic fundamentals may not support the market turnaround. The only positive outcome of the war is expected to be a reduction in the price of crude...

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