A rocky week for markets amid political rhetoric and rotational plays

SINGAPORE – A week which started with an

attempted political assassination,

then progressed into unsettling Republican National Convention rhetoric, and ended with a Y2K bug threat-like

global IT systems collapse

had all the ingredients to cause major panic in the markets.

But the fact that markets, though retreating, did not go into a nosedive, says a lot about the resilience of investor sentiment and confidence in underlying fundamentals. That said, some Wall Street marquee names had their worst week in recent memory as money rotated away from heavyweights and big tech to mid-caps and undervalued plays.