1,000 POINT STOCK MARKET CRASH May 6, 2010 Fox Business

[TheJoeyD27]

Are you sure this happened on may 6, 2010? I thought that it was 2007?

[hersheychocolate1000]

@TheJoeyD27 It defintely happened on May 6, 2010 because as a trader I keep a diary of what the Dow, Nasdaq and the S&P 500 does everyday. Plus I was watching this live when it happened.

[Redmailnet]

This is funny. The world existed even before the word Economy was invented, and it will continue to exist even after that word stop from being used.

[6969dazzagazza]

@Redmailnet You obiviously don't have a mortgage on your home.

[Redmailnet]

Well I don't. Not that I don't care about other people's issue, but I don't think that economy plays a big role in people's life.

Let's X be the very first beginning of mankind and Y the day economy was introduced to the world (prior to Adam Smith). The range between X and Y is far more superior than the range of Y to nowadays. It means that we are what we are today not because of the Economy, but because we simply lived.

Now a lot of people want to make us think it is important, but it isn't.

[6969dazzagazza]

@Redmailnet When you lose your job and struggle to support your family, struggle to pay your mortgage, pay your student loans, see inflation on your food and petrol, see raised taxes to support negilgent Banks.....then you will understand.......unless you live on the street and beg for food (which still require people to produce and give you food).

[Redmailnet]

@6969dazzagazza I don't want to answer back just to answer back, but I've heard that from a lot of different people already and that makes me amazed of how true it is for a lot of people. Although, fortunately I don't have a job (200k people below 30yo are unemployed in my country); my home is already payed for; we have public universities and it costs ~900€/year; food can be grown hydroponically; I don't have a car anymore; taxes already been raised. System failed. Now we adapt. Creativity! ;)

[6969dazzagazza]

@Redmailnet 'When' Greece defaults Spain, Italy, Ireland, and Portugal could follow. When the working population lose their jobs and can no longer support your lifestyle, you will realise the word 'economy' is very real.

[radiodj1520]

I Believe This Was A Video Clip Of FOX Business Network's Countdown To The Closing Bell's Breaking News Report On 1,000 Point Stock Market Crash On Late Thursday Afternoon, May 6, 2010.

[rlichota1]

I want to see it live again.

Robert Lichota

[JP5466]

@rlichota1 Don't worry... you will. Sooner than you think.

[thegreatone258]

July 28, 2011 DJIA @ 12,000



[SinOfTheSorrowPistol]

Wait why did it keep going down?

[pxit212]

@SinOfTheSorrowPistol Lots of reasons. Stop losses were set at points that didn't take into account the possibility of sudden drops. Whole countries were marked as nearing insolvency and defaulting on debt. People had no idea what the government planned to do and how bad the actual situation was. Therefore, most investors took on an aversive, pessimistic attitude and pulled out. People panicked because of a possible double dip. Also the idiot anchor isn't helping. Herd mentality.

[marcusmartins1974]

ufa

greek protest

this is SPARTA

[evercas]

I have better chances to make money playing roulette and sports betting.

[jubiloiwatafw]

" ... investors make mistakes ... they sell at the lows , they panic . " She states this just as the S&P is approaching minus 500 for the day . Given the anarchy that followed in the minutes after this I would say that selling at this level was a fairly sound decision .

[wanderingeyes11]

greek protest...ha ha

[cammybammy]

it has been speculated that someone entered a trade that was an error. Too many zeros, if you will. Instead of 1,600 shares, they accidentally tried to sell 16 million or so. Oops!

[kardentyrell]

@cammybammy that was a ruse though, it was natural consequence =]

The market just needed just 1 shock, for the house of cards to fall.

[JP5466]

I love to see/hear these talking heads shitting their pants. Then they try and explain everything - lol Earnings reports are bogus... anyone with a modicum of intelligence knows that.

One day, hopefully soon, it will fall like this and not come back up.

[primeminister78]

I wish I was day trading on that day. Short everything on the way down, buy on the way up.

[adulby]

@primeminister78 ya its easy to say now...lol

it gets scary when this is live though.

[prodigee411]

@primeminister78 oh please, you wouldn't even know how to approach the ES. You would've gotten destroyed.

[primeminister78]

@prodigee411 You mad bro?

[OghamTheBold]

Wow - 150 unarmed Greeks - and without the element of surprise (you know that horse thing they usually try)

[EndTheFedRes]

We need government to tell us when the economy is getting better. lol Government will tell you that it was never bad to begin with. Unbelievable.

The thousand point drop was a "fat finger", wink, wink.

[RIPPED7399]

@4:25  what had happened was.....

[TYX91101]

Another interesting observation: apparently the market is being supported within very narrow parameters in which drops of just 3 to 5 percent trigger automatic sell orders. Rather than buy and hold we now have hit and run.

[TYX91101]

No fundamental reason for the drop indicates a 1987 scenario in which automatic sell orders were executed at tremendous speed. The first circuit breaker is set to halt trading when a 10% drop is registered. That would have been approximately 1050 Dow points, a level which apparently was not breached in the May 6 decline.

[timongarretson]

I'm not a Wall St guy but if the Dow dropped 1000 points and everyone is selling, wouldn't the buyers be making a shit ton of money when the market later recovered those points if the buyers bought near the bottom of the drop? Who is it that would be buying when the points are dropping so fast and given the chaos on the trading floor that can audibly be heard on various videos?

[taubstumm]

@timongarretson A lot of people got screwed, as in their trades got canceled or they had lagging data. For example they thought they were selling when the market was already recovering again.

Or their trades got canceled, so if they bought the bottom and wanted to exit the trade and sell at a higher price their buy was canceled and they were now short in an up market.

[MrsSarb]

Is this manipulation so that the Euro zone is bullied into bailing out Greece??? hmmmm, reminds me of another crash we saw not too long ago

[rivieracar1992]

@MrsSarb

Ya, their M.O. is always the same. Typical market manipulation. And when it happens, one should always ask "What's the power elite Illuminati is scheming about now?" There's always a reason to these egomaniacs madness.

Why would honest folks wanna play that rigged game is beyond me?

[gabrielredux]

this is one for the history books of wall street

[poopingeneral]

I watched Fox business live as it was happening.