Scaremongering headlines: irresponsible financial journalism

I’m usually a fan of the FT’s quality journalism. That’s why today’s headline is disappointing:

“Fresh US recovery fears hit Asian stocks: stockmarkets tumble”

But here’s the reality:

• Nikkei -1.2 %
• Australia -1.0%
• South Korea -0.3%
• New Zealand -0.6 %
• Hong Kong -0.4%

0.4% is a “tumble”? Really?

I know it’s tough for journalists to come up with an exciting new headline every day, but this kind of hyperbole is at best, lazy, and at worst, irresponsible financial journalism.

Of course, the FT are not the only (nor the worst) culprits. Here’s a smattering of similar headlines from across the globe this morning:

From The Associated Press:

“World markets dropped Friday as more dour reports on the U.S. economy renewed concerns about a slowing recovery and sent stock investors packing. The numbers spooked investors around the globe”.

(Even more incredulous: the same article goes on to quote actual index “collapses” in the very same article, just a few sentences below: Germany -0.5%, France -0.5%, UK -0.2%.)

And from The Telegraph: “Gloomy US industrial data rattle worldwide markets”

Come on. Enough sensationalism. Being human, investors have a hard enough time keeping emotions sufficiently in check to make good, rational investment decisions. Inaccurate, scaremongering headlines only needlessly fuel the flames. Let’s see some responsible journalism already.