stock market crash

[comhcinc]

so the stock market just fell 500 points. no good

[tokenuser]

so the stock market just fell 500 points. no goodReally?

According to Reuters:

The Dow Jones industrial average declined 15.22 points, or 0.12 percent, to end at 12,632.26. The Standard & Poor's 500 Index slipped 1.82 points, or 0.13 percent, to finish at 1,449.37. The Nasdaq Composite Index was down 10.58 points, or 0.42 percent, at 2,504.52.

This is nothing like the 9% slide that China experienced. It isn;t a crash, it is a market adjustment based on interest rates, and oil prices, and is nothing unusual.

[comhcinc]

This is nothing like the 9% slide that China experienced. It isn;t a crash, it is a market adjustment based on interest rates, and oil prices, and is nothing unusual.


no the market just fell 500 points in under 15 minutes that was about an hour ago it has only recovered about 84 points. that isn't normal. the market is about to close so we will have to see how this affects us tomorrow.

[masherscf]

no the market just fell 500 points in under 15 minutes that was about an hour ago it has only recovered about 84 points. that isn't normal. the market is about to close so we will have to see how this affects us tomorrow.

I doubt anyone will be jumping out of a window. The stock market goes up and it goes down. It has nothing to do with normality.

Actually, I think it's the web 2.0 bubble bursting.... good bye Revision 3!

[ariastar]

The stock market is a rolly-coaster. Hang on and it ends fine.

[klitzy]

The stock market is a rolly-coaster. Hang on and it ends fine.

Tell that to Florence Owens Thompson.....

[acidburn]

no the market just fell 500 points in under 15 minutes that was about an hour ago it has only recovered about 84 points. that isn't normal. the market is about to close so we will have to see how this affects us tomorrow.

The market didn't drop 418 points. The Dow Jones Industrial Average dropped 418. The Dow isn't a great reflection of the market. It consists of the average of only 30 companies.

The S&P 500 is a better reflection of the market as a whole, it only fell about 50 points.

[tokenuser]

The page I read was dated today, but was actually from yesterday. I didn't catch that when I quoted :) --- sorry.

All the same, overall the stockmarket had its worst day of trading since Sept 17, 2001 (first day of trade after 9/11).

BUT that sudden drop? Aparently it was caused by a computer glitch - the system could handle the volume of trading, and the transaction REPORTING system (not the sales system) got bogged down from about 2:00pm. When it came back online, it adjusted itself, and instead of the stead plunge throughout the afternoon, it recorded a massive drop. This caused more people to bail out, causing a further artificial drop.

It'll bound back tomorrow. I might cruise for some shares that got dumped and see if I can catch anything on the upswing tomorrow :)

[lsman11]

it seems a computer glitch did have something to do with it:

http://money.cnn.com/2007/02/27/markets/dow_drop/index.htm?postversion=2007022717

but that glitch was caused because so many people were bailing out of shares, so it only 'added fuel to the fire' i suppose

i wonder who wrote that software...

[masherscf]

i wonder who wrote that software...

http://pix.nofrag.com/fa/59/9f5de6bd94d9c9b596681732a5d5.jpg

[acidburn]

maybe they were implementing the daylight savings patch.......

[yashar]

Im screwed. This is what I get for investing in apple and costco :(

[tokenuser]

Im screwed. This is what I get for investing in apple and costco :(Dont defenestrate yourself yet. The market (based on DJIA) regained about 50 points today. It'll be back to normal this time next week.

[ericjosepi]

Mmmm... The joys of being ignorant on such matters. To me, the stock market is just numbers... and expensive Google stock.

[yourestillmycaesar]

Dont defenestrate yourself yet. The market (based on DJIA) regained about 50 points today. It'll be back to normal this time next week.

Bonus points for saying defenestrate!

I have a recent love of economics, and this was hardcore exciting for me... not because of the plunge, just because it's interesting.

Basically, China had a hella bad drop yesterday, and seeing as though they have a lot of influence on our economy through selling goods and them having investments in lotsa companies, it effected pretty much the whole world economy (or at least those of the world who have Stock Exchanges).

Craaazy shit, but the market should be stable by next week.

[samureye]

If you want to actually learn what is going on and what might happen, you should look at BBC News, but I hear you don't get it in the US. That's creepy.

[rowlodge]

there some new hardware to catch a sudden drop like that , stopping further sales to prevent the same thing happening like that in the last crash, i guess it did'nt work.?

[masherscf]

If you want to actually learn what is going on and what might happen, you should look at BBC News, but I hear you don't get it in the US. That's creepy.

You can get the BBC on many public radio stations... including mine. Where did you "hear" that you can't get it in the US. That's just plain ignorance.

[kowgod]

I lost about a year's worth of growth off of my 401k. Oh well :D

It's funny, I'm pretty young and all... got a long ways to retirement. So just a couple weeks ago I shifted a significant percentage of my 401k over to higher growth foreign investments in Europe and the Pacific.

Ooops? hahaha.

Shrug though, in the long run, I'm sure it's still a smart move...