Today’s Market Panic
9:51 pm February 27th, 2007 by Sal Cangeloso
There is a great article over at Yahoo with a good explanation (as good as is possible given how many things factor in) of just what happened today in the stock market. It’s not very encouraging, but it is easily the most interesting thing I read today…
From the article:
It began with a 9 percent slide in Chinese stocks Tuesday, which came a day after investors sent Shanghai’s benchmark index to a record high close, setting the tone for U.S. trading. The Dow began the day falling sharply, and the decline accelerated throughout the course of the session before stocks took a huge plunge in late afternoon as computer-driven sell programs kicked in, and also as a computer glitch caused a delay in the recording of a large number of trades.
[...] Original post by Sal Cangeloso [...]