The past week has seen share markets wobble - with US shares and global shares down 4% from their recent high and Australian shares falling about 5% - amidst concern about global growth, central banks starting to reduce monetary stimulus and problems at a major Chinese property developer. Some are even talking about a “Lehman moment” in relation to the latter – a reference to the collapse of Lehman Brothers in September 2008 that contributed to the worst of the GFC. Markets have stabilised a bit in the last day or so but its too early to say that we have seen the bottom. This note looks at the key issues for investors and puts the falls into context…

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