Quote:
Originally Posted by bandycpa
Is this a normal reaction to a market swing?
http://www.foxnews.com/politics/2010...-market-swing/
- FOXNews.com
- May 07, 2010
Obama: Regulatory Authorities Investigating Wild Stock Market Swing
President Obama says regulatory authorities are looking into Thursday's wild swings in the stock market with an eye toward protecting investors and preventing something like that from happening again.
President Obama said Friday that regulatory authorities are "evaluating" Thursday's wild swings in the stock market with an eye toward protecting investors and preventing something like that from happening again.
A computerized sell-off sent the Dow Jones industrial average plummeting by a near-record 1,000 points within about a half-hour Thursday afternoon. Fear that the European debt crisis could spread was a factor. The market regained two-thirds of that loss before the end of trading.
Obama characterized the swing as "unusual market activity" and said that regulatory authorities would make findings of their review public along with recommendations for "appropriate action."
Obama said he spoke Friday with German Chancellor Angela Merkel about the economic situation in Europe. He says they agreed on the need for a strong response by the affected countries and the international community. |
Bandy, great question!
Happened to be watching yesterday, in four min time, when the Dow lost 1,000points. Never saw that before, but for sure, would not throw my un-educated opinion out in front of the world stage, as to why.
Why the big O said what he did, who knows...maybe to further His own agenda? Set Himself up as a saviour of yet another
"failing" incompetent brick in Our Free-Market soceity that the Government needs to get a handle on?
Let's see, Auto, Oil, Banking...hmmm, what's next???
Maybe my tinfoil is getting to tight.....
Well, we'll see....
Holly