Slash and burn

It felt like death by a thousand cuts. Already this month has seen plenty to rattle the stockmarkets, from dreadful economic news to the continuing bloodshed at American International Group, an insurer. Commodity firms were given a reprieve on March 4th by hopes of a big stimulus package in China though all they got was reaffirmation of the country s 8% growth target. Meanwhile, a new fear haunts the markets: the mounting number of firms slashing their dividends. That banks and insurance companies will chop their payments is now understood, but the pain has spread. General Electric (GE) has cut its ...

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