So far, few outside the energy sector have been hurt by this year’s oil rout. But the ripples likely have only begun to be felt. Falling oil prices are on balance positive for energy consumers such as the U.S., and with the Dow Jones Industrial Average hitting a new record Friday, investor confidence appears intact. Yet some analysts and investors say a 39% plunge in crude futures since June could lay the groundwork for unpredictable market shifts and increasing price swings, or volatility. In a worst-case scenario, oil’s selloff could ultimately result in a shock akin to the Asian currency crisis of 1997-98. That episode—which started with a devaluation by Thailand—rattled markets and economies around the globe after many traders initially misjudged it as minor and inconsequential. Most investors expect the U.S. economy and global markets to avoid such a fate this time. But the great lesson of the […]