Dow rebounds some after plunging nearly 1,000 points
Dow rebounds some after plunging nearly 1,000 points today in a panic sell off before the market closed.
U.S. stocks ended with steep losses Thursday after an afternoon meltdown lopped nearly 1,000 points off the Dow Jones Industrials Average — its biggest intraday drop ever — before a comeback of sorts, as Europe’s troubles took hold on Wall Street and talk of errant trades exacerbated the swift selloff.
“We’re not talking about a couple of companies going bust; we’re talking about countries,” said Peter Boockvar, equity strategist at Miller Tabak, of worries that Europe would not be able to contain debt troubles that sparked riots in Greece.
Our members were emailing us today becuase our IMAFIA tool has been warning us about this for some time. I guess I shouldnt have thrown it out so suddenly. But we have been warning our members here
They are blaming this on some IDIOT TRADER pushing wrong buttons at his terminal…but I am just not buying that.
