Either investors have panicked or the market is warning of dire problems ahead.

The may cause investors to panic and then there is a real risk of contagion.

In 2002, investors panicked over news reports about a government plan that called for more than 50 percent black control of the mining industry.

There are other reasons investors should not panic.

- Why did investors panic in 1929, leading to the Great Crash?

In 1987, some investors panicked, sold at the lows and regretted it thereafter.

Unable to confirm that their sell orders were being executed, some investors panicked and sold even more.

Clearly, investors have panicked about tobacco to a greater extent than ever before.

But when it nearly ran out of central bank reserves in 1997, investors panicked and the currency melted down.

The concern is that foreign investors might panic and withdraw from the Treasury bill market.