On Monday, markets around the world agreed to go into a tailspin. Today on the show, Rob Armstrong and guest Nick Megaw try to figure out what drove it all. They cover unemployment, manufacturing, the Japanese carry trade, the Magnificent Seven, and the foolishness of the retail investor. Also we go long Google, and long CNBC at midnight.

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You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

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Anatomy of a rout 20:07 Share

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Anatomy of a rout