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Holy Dow!

By Brian | May 6, 2010 | Share on Facebook

Those who even casually follow the Dow Jones Industrial Average know that a triple-digit swing (i.e., a change of more than 100 points in a given day) is a pretty big deal, and a change of 200 or more is worthy of a headline. Back in Sept/Oct of 2008, when the financial crisis was at its peak, we often saw swings of 400-500 points in a given day, which was simply astounding.

So you can imagine how strange this is to see (all quotes as per Yahoo! Finance):

DJIA quotes
2:36pm: 10,515.03
2:46pm: 9,872.57
2:56pm: 10,475.13

That’s a 650-point drop in ten minutes followed by 650-point rise in the next ten minutes. The cause was concern over the European Central Bank’s handling of the financial crisis in Greece, and potentially a technical glitch with regard to the trading of Proctor & Gamble shares (P&G is a Dow component).

At any rate, I have a message for whoever invested a bunch of money in the stock market at 2:46pm today:


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