Dow down 1,000, then rebounds

May 7, 2010 Read more: The Reporter
A computerized selloff possibly caused by a simple typographical error triggered one of the most turbulent days in Wall Street history Thursday and sent the Dow Jones industrials to a loss of almost 1,000 points, nearly a tenth of their value, in less than half an hour. Read more
Cedric

Grand Prairie, TX

#1 May 7, 2010
Well people... has the Joe and Jane, Maria and Jose, Thanh and Nu, Mati and Sholum, Jerome and Tanika, learned that the stock market is a risk? Especially these days!

We invest what little we have and collectively we provide the market a large source of cash, only to be wiped out by the bigger investors who can ruin the market at the touch of a key board.

My "feeling" is that this stock market game is being artificially operated. No proof, just a gut feeling. I have withdrawn all funds from the market after being burned a few times.

With the Left in power today, I can't even feel comfortable with money in the banks and insured by the FDIC! That's scary!

If the media finally learns what happened yesterday, will they tell US? Will the present Administration give US the honest answer? After all, there is an electronic trail and simply follow the money!

Since: Mar 08

Location hidden

#2 May 7, 2010
Media reports were that the markets were reacting to events in Greece. An excuse for the noon nose dive of yesterday's market was that it was a "technical error" - a computer glitch.

How about shear panic on the street?

The austerity moves that the Greek government is imposing on that nation might not be limited to themselves. There may be a time, sooner or later, where most of the 1st world nations will have to account for and take remedial action for decades of spending beyond their means. This includes the United States and is not limited to the actions of one political party. Both Democrats and Republicans have borrowed and spent like drunk sailors in Hong Kong.

It won't be pretty.
Investor

Vacaville, CA

#3 May 7, 2010
Today would be a good day to move to cash for awhile. I'm pulling back to see what happens with this botched trade I've been reading about this morning that affected the markets so much yesterday.
Stan

Grand Prairie, TX

#4 May 7, 2010
Mark W wrote:
Media reports were that the markets were reacting to events in Greece. An excuse for the noon nose dive of yesterday's market was that it was a "technical error" - a computer glitch.
How about shear panic on the street?
The austerity moves that the Greek government is imposing on that nation might not be limited to themselves. There may be a time, sooner or later, where most of the 1st world nations will have to account for and take remedial action for decades of spending beyond their means. This includes the United States and is not limited to the actions of one political party. Both Democrats and Republicans have borrowed and spent like drunk sailors in Hong Kong.
It won't be pretty.
Yesdear... that is the initial slant, but what is the real slant? Also known as "spin" to keep the peasants calm.

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