Investors are rattled after technical glitches in the trading of Procter & Gamble (PG, Fortune 500) stock led to a nearly 1,000-point drop on the blue-chip Dow Jones industrial average.
The plunge of 998 points was the Dow's biggest one-day point decline on an intraday basis.
The sharp and rapid drop late in the trading day Thursday triggered a wider selloff on Wall Street. However, stocks managed to pared most of those losses.
The erratic trading on Wall Street on Thursday only exacerbated nervousness among investors, who have been on edge the past few weeks amid growing concerns that debt woes in Europe will slow down the global economic recovery.
Seriously !?!? This incident just goes to show that nothing is impossible in the world today.
I mean, ludicrous incidents just tag after one another. Troubles attract more troubles and even more troubles. They just seem to be perpetual in nature.
I mean, till now, they cannot even ratify if the 39% plummet of the P&G stocks was due to a technical glitch or what because apparently the fall in prices was witnessed on the electronic displays. Hence, they trust that it is nevertheless, still accurate.
How fatuous can they get? I mean, why would P&G's stocks plummet by 39% when it is making a huge profit and having a stable revenue with no debts issues? It's just simply way too far fetch to assume that it is possible for the stock to fall by 39%.
To me, it is flagrant that the system has either been hacked or it has collapsed momentarily. Otherwise, there's simply no reason as to why P&G's stock can rebounce back to near its original price in such a short time.
Furthermore, P&G was not alone, Apple too fell by 22%. 3M fell 21.5%. And Accenture fell from $40.13 all the way to just a mere 1 cent. 1 cent !?!?!?!? I mean how is that actually possible ?
Rather than clearing it up, the authorities and the experts still refuse to pass a quick judgement that everything was just due to a technical glitch and in turn they caused a tumult in the shares market.
This resulted in a quick selloff of the Dow Jones and everyone continue to be in a panic frenzy. Typical civilians will think that the world economy is going to collapse because they are apprehensive about today's fluctuating global economy that is inevitably linked to one another.
If the Greek's economy were to refuse the saving package that is ever so relentless, it will collapse for sure and for the world to save it again, will be extremely arduous.
The situation has already been worsening day by day because of the paucity of backup plans and resource reserves.
And now, the Dow Jones plummet by 1000 points, it is no wonder the citizens are hurrying for a quick selloff.
Perhaps, this is actually a great and perfect opportunity to exploit the market for we can actually purchase the Dow Jones for an all time low price.
Well, it might be a god's gift for all we know!
Credits -cnn, -cnn
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