Thursday, May 6, 2010

US Stocks Fall 1000 Points, Then Come Back

The United States stock market fell nearly 1000 points in less than 30 minutes today, marking one of the most turbulent moments and days in its history. Fortunately it quickly rebounded and recovered about two-thirds of its losses, ending with a loss of "only" 347 at the closing bell.

The crazy drop was partially caused by fears that Greece's financial crisis will hurt all of Europe's economy, as well as that of the US. But it may have been due more to a freak accident involving a trader who mistakenly tried to sell 16 billion futures instead of 16 million, which in turn set of all kinds of automatic computer sell orders.

This was the biggest drop EVER in a single trading day for the US Dow. It's becoming more and more obvious that the economic problems affecting the US and the entire world are far from being resolved...

Learn some mo': Dow pulls back after dizzying 30-minute plunge

No comments:

Post a Comment