Word: heating
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...more liquid positions and reduces its exposure there. This causes pressure on these markets, markets that have nothing to do with the original problem, other than the fact that they happened to be held by the fund that got in trouble. Now that these markets are feeling the heat, other highly leveraged funds with similar exposure will have to sell. This leads to another cycle of selling, but in what was up to that point a healthy market unrelated to the initial turmoil...
...pacing offshore with disarming names like Flossie and Erin; we know, in a way we didn't a few years ago, the damage they can do when they're angry. Storm fears drove oil prices up, sending more shudders through financial markets that already don't like the heat. For nearly 20 years, August has been the worst month of the year for the S&P 500. The folks at Homeland Security are pale and twitchy, recalling the mood of August 2001; the Geiger counters were out again in lower Manhattan. And as families set off for the lake...
...lost, the Arctic could heat at a faster rate...
NASA is sweating out another chip in the heat-resistant tiles of a space shuttle, the kind of damage that doomed Columbia. This time it's Endeavour, which was hit by debris on its way to orbit. The wound is near a wheel well, a bad spot because it can provide access to the ship's innards. Shuttles have withstood worse, but no one will relax until the fiery ordeal of re-entry is done. [This article contains a diagram. Please see hardcopy of magazine.] Shuttle Endeavor...
WHAT TO THINK The move is intended to put pressure on hard-liners in Tehran. But raising the rhetorical heat could also slow efforts to find a diplomatic solution to the nuclear standoff...