New York Times (May 7)
At 2:42 yesterday, the Dow Jones Industrial Average (DJIA) went into freefall. By 2:47, the DJIA recorded its greatest ever intraday point drop. Individual stocks experienced even greater volatility. Procter & Gamble fell 37%. Accenture dropped from $40 to $0.01. The New York Times says the panic was the result of “one part nervous traders, one part Greek crisis and one part trader error.” After falling more than 1,000 points, the DJIA largely recovered, closing down 347.80 points. The SEC and major stock exchanges have launched an investigation into the “unusual trading activity.”
At 2:42 yesterday, the Dow Jones Industrial Average (DJIA) went into freefall. By 2:47, the DJIA recorded its greatest ever intraday point drop. Individual stocks experienced even greater volatility. Procter & Gamble fell 37%. Accenture dropped from $40 to $0.01. The New York Times says the panic was the result of “one part nervous traders, one part Greek crisis and one part trader error.” After falling more than 1,000 points, the DJIA largely recovered, closing down 347.80 points. The SEC and major stock exchanges have launched an investigation into the “unusual trading activity.”
Tags: Dow Jones, Greek crisis, Panic trading, SEC
