European crisis Wall Street plunged
Today, stock market news about Wall Street panic Due to human error, the trigger Massive selloff
Stock trading on Wall Street plunged today closed sharply after panic selling caused by human action errors added concerns about the European crisis that increasingly pervade. Dow Jones plunged 347.80 points or 3.2% to 10,520.32 level; S & P 500 slid 37.72 points, or 3:24% to 1,128.15 level, while the Nasdaq fell 82.65 points, or 3:44% to 2,319.64 level.Today rarity on the trading occurs, so that Dow Jones had tumbled as much as 998.50
From CNN News That Stocks have been sliding on and off for the last two weeks as investors Mull the ramifications of the growing debt crisis in Europe.The selling was a result of technical glitches that caused some stocks, including Dow component Procter & Gamble (PG, Fortune 500), to plunge 37% to $39.37 per share from the close of $62.12 Wednesday. The consumer products maker recovered most of that loss by the close, ending just 2% lower.
But the faulty P&G trading was responsible for 172 of the 998.50 points that the Dow Jones industrial average (INDU) lost at its worst, the biggest one-day point decline on an intraday basis in Dow Jones history. Fears about the spread of the European debt crisis dragged on stocks through the early afternoon. But the selling picked up in intensity and the Dow reached its nadir at around 2:40 pm ET.
While European leaders have pledged to Provide Greece with $ 146 billion in loans over the next three years, Attempts by the nation to institute certain “austerity” measures to bring down the deficit have sparked riots and other Violent outbursts.Meanwhile, Investors Are Concerned That the size of the bailout will of the make Europe less Able to help Spain, Portugal and other debt-plagued nations. The so-called PIIGS Also include Italy and Ireland.
