TOKYO -- Crude oil's price plunge has investors worried about global financial and capital market convulsions.
Low crude oil prices in the second half of the 1990s led to the collapse of major hedge fund Long-Term Capital Management. "It seems reasonable to assume that the current plunge in oil will lead to crises," Wall Street's top economist, Ed Hyman of Evercore ISI Team, said. Hyman has been named by Institutional Investor magazine as Wall Street's best economist for more than 30 years. His talk of a crisis is inspired by the financial debacles of the 1980s and 1990s.
