The 2008 financial hurricane will wound up making history, as the events that discarded many of the old axioms and economic ideologies redraw a new hierarchy of the world’s economic juggernauts. Bucharest Stock Exchange was avoided by the crisis. In the past few months, investors would see their portfolios taking a nosedive while brokers are gripped by waves of panic and despair.

Financial crisis erupted last year in United States from the high number of defaulting borrowers with subprime mortgages, leading mortgage lenders to bankruptcies.

The pitfalls of the American equity market date back in August, when central banks started pumping liquidities into the system. The crisis spread throughout the world’s stock markets, including BSE. The last year’s fallout influenced the global market even since day one of 2008, when the so-called “January effect” did no longer occurred after nine successive years.

There are several major international events of 2008 whose intensity and importance will surely make history.

“However, the stock market was not influenced by isolated events, but by a chain of events, some more important than others, and each one of them had an influence in the evolution of the global economy,” said Andreea Gheorghe, manager of analysis department of Intercapital Invest.

“A year ago, Wall Street stock market, as any other financial market in the world, was rallying to all-time highs, and most of the analysts, investors and actors of the financial landscape did not imagine that it would go back to such a steep decline in such a short time. In my opinion, alarm signals were triggered ever since 2007, when many investment trusts started to ready exits from various financial markets. However, one of the highlights of 2008 it remains the fallout of US banking system, which spread across the world , and that was the starting poi