The Dow Jones Industrial Average dropped more than 1,000 points in the opening seconds of the US trading session today. This is the first time in history for such an event to happen. It recovered quickly and closed 588.47 (3.58%) points lower reaching 15871.
EURUSD went from 1.1368 to 1.1712 and Gold created a small hurricane fluctuating between $1,152 and $1,170.
The Chinese market has suffered its biggest one-day plunge since 2007 after investors' selling overtook the markets in a reaction to the absence of any move by the People's Bank of China to take some action over the weekend to support the financial system.
Keyword for today: Panic.
Another flash crash!!!
ReplyDeleteThe situation in China is wreaking havoc on the market.
ReplyDeleteHuge drop.
ReplyDeleteGreat post.
ReplyDeleteGood reporting, excellent.
ReplyDelete