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Old May 6th, 2010, 12:30 PM   #1
myp
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Dow suffers huge fall, international markets down, gold up

An interesting day today to say the least. The Dow was down by nearly 1000 points earlier today, but thankfully bounced back to around 350 down right now (still bad, but relatively better.) The large fall was partly due to growing uncertainty of Greece and worries of a potential contagion effect. There is also word that it could have been partly due to a trading error.

European markets were down significantly as well, as the future of Greece and the Euro is still murky. Greek, Spanish, and Italian bond yields surged, stocks dipped, and the Euro is down once more.

As investors tried to shed risk, gold was on of the favorites and as such it had a very strong day, up ~3% right now to $1200+. US treasuries also had a strong day as investors fled from riskier bonds.

Thoughts?
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Old May 11th, 2010, 11:55 AM   #2
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It is the largest intra-day crash in market history. It did see a huge 400 point recovery monday, in my opinion it is big time manipulation I believe the stop plunge committee had to step on because of it's massive drop.
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