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Australian Traders React to Global Market Plunge

Traders across the globe reacted to yesterday's global markets plunge. In Australia, one trader says this sell off differs from 2008.

The Australia S&P/ASX 200 joined in the global market turmoil Friday, dropping 4% as traders made comparisons with the crisis of 2008. However, according to Rob Taubman, executive director of equities at UBS Australia, the current sell off differs from 2008’s crisis because corporate balance sheets are in better shape. WSJ's Geoffrey Rogow Reports.

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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