Haven't we recovered most of the percentage loss? What a scam
2007-02-28 06:05:03 · 4 answers · asked by Dick Richards 3 in Business & Finance ➔ Investing
Actually, the computer problem did not happen until late in the trading session. The market had already fallen a couple of hundred points. It was caused because the main computer was overwhelmed by sell orders. The NYSE had to bring another computer on line to handle the load. During the short period of time that it took to made the change, sell orders backed up. When the new computer came on line, they all hit the market at the same time, and there we have it.
Somewhat of an interesting phenominon actually, human nature that is. Someone yells fire and every one heads for the exit post hast trampling everthing in their wake.
It may take a while for everyone to get their underware changed.
2007-02-28 07:01:36 · answer #1 · answered by Anonymous · 1⤊ 0⤋
A computer glitch?
It wasn't a market "scare". It was a market correction and it started with China stocks which had gotten overpriced. There was a sell off in China (their market went down something like 9%).
The only computer problem was the Dow Jones. Their computers were running something like 70 minutes behind yesterday but it did not effect the overall market slide.
2007-02-28 14:10:45 · answer #2 · answered by Faye H 6 · 0⤊ 2⤋
in the last 30 years a 400 point drop has happened just 3 times. Yesterday was number 3. Its statisticly something that happens every 10 years, and as you can guess, the last 400 point drop was in 1997. (Excluding September 11th) Not a big deal really, it happens.
2007-02-28 14:24:38 · answer #3 · answered by dkwr14 3 · 0⤊ 0⤋
Well, the market dropped 400 points yesterday.
And, today it recovered 65 points.
No thats not a scam.
2007-02-28 14:12:21 · answer #4 · answered by Anonymous · 0⤊ 1⤋