The Pendleton Panther

Fright in Wall Street

Posted on: May 6, 2010

Half an hour before the close, the Dow Jones shows losses of 3%, after having fallen to a really scary 9%, in a session where panic has been the leading actor. The collapse of the market, which was losing 998 points at 2:48 pm, is not just caused by a confidence crisis in some of the European markets due to the doubts the Greek economy brings; something different must have happened, because it has led to the worst performance in Wall Street since the “crash” of 1987. Some people were blaming this sudden collapse to a technical failure and others claim there was person that supposedly started selling a stock worth $63 (Procter & Gamble) at a price of $33, by mistake. No matter what the reason was, it nearly gave a heart attack to many american investors.

Tough day for investors


Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: