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

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