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Jul - News - Dow drops 1000 in minutes over Europe, Greece. New poll - New thread - New reply
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Hiryuu

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Posted on 05-06-10 05:58:50 PM (last edited by Hiryuu at 05-06-10 02:59 PM) Link | Quote
Subject: Dow drops 1000 in minutes over Europe, Greece.

It's on the mend, but still down about 600. Trading just went berserk and the VIX is on the climb.

Greece and Europe are in some serious trouble.
Orlandu


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Posted on 05-06-10 06:44:34 PM Link | Quote
This is what the internet age has brought. Social unrest in a foreign country is broadcast to the world and everyone goes in to a panic. And by everyone, I mean Wall Street and oil companies. Immediately the stock market takes a hit and in days the price of gas goes up 10%... Our economy is run on fear now. Everything is instant and doesn't allow time for an issue to be resolved or a permanent solution to be planned before seeing what the impact will be on society or foreign trade.

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Hiryuu

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Posted on 05-06-10 06:49:48 PM Link | Quote
That's the price you get with technology and the by-product of convenience. It'll only get worse over time.

All I can say is it isn't as bad as Fall '08 was when the Dow was hundreds of points up or down every day because of increased concerns of oil prices and the like.
Lyskar
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Posted on 05-07-10 01:34:05 AM Link | Quote
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Metal_Man88's Post
Meh, I'm in bad shape no matter where the Dow is, so I don't really care. Although the more the people on Wall Street suffer, the better.

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Rachel Mae

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Posted on 05-07-10 04:23:03 AM Link | Quote
Why don't we just rename this friggin' country the United States of FEAR and be done with it, because I swear that's all anybody ever talks about anymore.

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Lyskar
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Posted on 05-07-10 06:21:32 AM Link | Quote
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Metal_Man88's Post
Of course, it turned out to be a glitch.

Whoops!

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Xkeeper

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Posted on 05-07-10 09:06:57 AM Link | Quote
Originally posted by Metal_Man88
Of course, it turned out to be a glitch.

Whoops!

Yeah, I learned this during TRMS. Absolutely hilarious to see the stock skyrocket to 100,000 though (from a normal high of, you know, 30)

Guess: Someone fat-fingered a purchase to B instead of M or something.

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Hiryuu

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Posted on 05-07-10 10:26:03 AM Link | Quote
Originally posted by Gunstar Green
Why don't we just rename this friggin' country the United States of FEAR and be done with it, because I swear that's all anybody ever talks about anymore.


It's the only thing newsworthy.
Nitin

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Posted on 05-07-10 10:30:27 AM Link | Quote

The ripple effect is worldwide

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Arisu
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Posted on 05-07-10 11:57:43 AM Link | Quote
So how much did everyone make of this golden opportunity?
Xkeeper

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Posted on 05-07-10 02:37:06 PM Link | Quote
Originally posted by Arisu
So how much did everyone make of this golden opportunity?

Nothing. The NYSE nullified all transfers that occurred during the time this happened.

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Arisu
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Posted on 05-07-10 04:00:07 PM Link | Quote
Originally posted by Xkeeper
Originally posted by Arisu
So how much did everyone make of this golden opportunity?

Nothing. The NYSE nullified all transfers that occurred during the time this happened.

Nope, only a bunch. Some of them like Apple didn't get cancelled at all.
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Posted on 05-07-10 11:34:00 PM Link | Quote
Originally posted by Hiryuu
Originally posted by Gunstar Green
Why don't we just rename this friggin' country the United States of FEAR and be done with it, because I swear that's all anybody ever talks about anymore.


It's the only thing newsworthy.

It's basically the only thing that catches people's attention. In order to have viewers, newscasters have to report things that catch their audience's attention. Thus, most of the events we see on tv are ones that induce fear. After all, a story about happy things is not nearly as fascinating as one about a disaster. It's like when you pass a car wreck, how you just can't stop looking at it, even though you don't really want to. For a disaster-themed news story, it's much harder to turn off the tv.

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Posted on 05-08-10 01:00:15 AM Link | Quote
Originally posted by MajesticLight
Originally posted by Hiryuu
Originally posted by Gunstar Green
Why don't we just rename this friggin' country the United States of FEAR and be done with it, because I swear that's all anybody ever talks about anymore.


It's the only thing newsworthy.

It's basically the only thing that catches people's attention. In order to have viewers, newscasters have to report things that catch their audience's attention. Thus, most of the events we see on tv are ones that induce fear. After all, a story about happy things is not nearly as fascinating as one about a disaster. It's like when you pass a car wreck, how you just can't stop looking at it, even though you don't really want to. For a disaster-themed news story, it's much harder to turn off the tv.

News is supposed to be relevant; if you want happy inspirational stuff turn to the feature stories.
Lyskar
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Posted on 05-08-10 08:39:05 AM Link | Quote
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Metal_Man88's Post
But dontcha know, in America, 'supposed to' is a curse word and 'That's screwed up' is the bill of the day.


As long as it makes money, at least!

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