If you could explain what has happened to the economic and financial markets over the past 6 months in one word, what would that word be?
Definition from Dictionary.com:
Main Entry: recalibrate
Part of Speech: v
Definition: to correct a measuring process by checking or adjusting again in comparison with a standard
Example: The archaeologist recalibrated radiocarbon dates to adjust them to calendar years, using results gained from dendrochronology
Note: He did not choose the word "crisis", even though what occurred is, or at least was, a crisis. He feels the media overuse the word; calling everything a crisis, so he avoids using it.