Member of the Verkhovna Rada from the Servant of the People faction, head of the parliamentary committee on finance, tax and customs policy, Danylo Hetmantsev, is convinced that the panic on the global stock markets does not mean the financial "end of the world".
He wrote about this in his Telegram channel, Ukrainian News Agency reports.
"Such stories of "rises and falls" are a common thing. Therefore, I am convinced that the current rally on the asset market may still be fueled, for example, against the background of a possible escalation in the Middle East, but there will be no financial "end of the world" this week," he wrote.
Hetmantsev explained that the index of shares of technology companies suffered the biggest drop since 2015, because investors overestimated the boom in the artificial intelligence market.
In his opinion, the panic in the stock markets is connected with purely market mechanisms called "boom and bust cycle".
"No one was surprised when the capitalization of shares of technology campaigns grew by 100+ billion dollars per day against the background of not only real and proven gains, but also media-promoted "stories about crazy prospects" in the fields of certain technologies, for example, already of the mentioned artificial intelligence," he added.
As Ukrainian News Agency earlier reported, on Monday, August 5, there was a global collapse of the stock markets.
Dozens of the world's largest companies lost hundreds of billions of dollars as a result of such a fall.
Since the beginning of the full-scale war, the financial stability of Ukraine does not depend on external financial markets, but purely on the help of developed countries and international financial organizations.
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