Traders worried by the global slump in stocks on Wednesday received some reassuring words from the head of India's central bank.
Raghuram Rajan, the governor of the Reserve Bank of India since 2013, told CNBC that one reason for the tumult in markets was "jitters about jitters."
"I think one is jitters — everybody is looking at everybody else and saying 'Is this the point where they take the money off the table?' — because markets have moved up quite a bit. So that's part of it," he told CNBC on Wednesday.
"Part of it is wondering what is really happening in China: Why did the renminbi start moving a little and is there more to come? And, of course, the oil price; how far will it go and does it affect some entity, some lever entity somewhere, which has oil exposure, and does that create problems?
"So I think some jitters are really jitters about jitters and some are really wondering about fundamentals."