Cyberattack Is Vivid Example of Underpriced Threat, Prasad Says
- Sees financial markets as not pricing in geopolitical risks
- Prasad: ‘This is a very vivid example of negative disruption’
Cornell's Prasad Says Geopolitical Risk Is Underpriced
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Investors aren’t sufficiently pricing in a growing threat to economic and financial market stability from geopolitical risks, and the latest global cyberattack is an example of the damage that can be wreaked on trade, Cornell University Professor Eswar Prasad said.
His remarks came as a virus similar to WannaCry reached Asia after spreading from Europe to the U.S. overnight, hitting businesses, port operators and government systems. A selloff in technology stocks extended into the Asian trading session.