Markets sell-off again

World share prices have fallen sharply again, this time due to concerns over surging oil prices, rising interest rates and jittery US consumers. Share dealers across Europe had their fingers on the sell button, with the leading indexes in France, Germany and the UK all falling by nearly 2.5%. In the US leading shares had slipped 1.6% by the close of trade. Global markets have been volatile in recent weeks, worried about signs that the US economy is overheating.

Traders are worried that high oil and commodity prices and a surging US economy will send inflation higher, putting pressure on central bankers there to raise interest rates. On Tuesday crude oil prices passed $72 in New York trading and a report from the US Conference Board said consumer confidence had fallen sharply in May, although it had been at a four-year-high in April.

- And they were doing so well in the earlier part of the session. No matter, "buy on weakness" is a good way to accumulate. When people panic and sell, some of us will step up to buy. Call us contrarians, call us speculators, whatever. After all, you need a buyer and a seller in order to get a transaction to go through. Right? Seeya on the other side of $75 oil ...

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