Saturday, March 3, 2007
Wall Street
My roommate overheard two people talking about the uncertain economy. They could not believe that the US markets had fallen to a worse level than the 9/11 aftermath. Of course they blamed Bush. I just felt the need to clarify a few things. This week saw the steepest drop of stocks since the 9/11 aftermath, not the worst economy. This was not Bush’s fault as the global markets of Asia, the US, and Europe all took the hit together. When the Asian markets fell they scared markets worldwide. At this point, this could amount to a temporary hiccup. It might also be the start of something worse. Only time can tell.
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2 comments:
I also heard that there were some computer malfunctions and people went a little nuts when it was taking a while for trades to happen or they weren't going through at all.
Yes. Due to the high amount of trades there was a lag. When they switched to a back up system it updated. This caused the market to loose 200 points in under a minute.
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