Market Plunge

  • Market Plunge

    When The Dancing Had To Stop

    Sorry about our slow start on the day. We’ve been busy this morning trying to gather up information about the who’s and why’s of this morning’s equity crash. And, of course, trying to score twos for a pal of ours who recently got out of the hospital and has been having a rough time at […]

    / Nov 1, 2007 at 10:31 AM
  • Market Plunge

    The Friday Before Black Monday

    On Friday Oct 16, 1987, the Dow dropped -4.6 pct.

    / Oct 19, 2007 at 3:42 PM
  • Market Plunge, Thanks for weighing in

    Thanks For Weighing In: Mike Bloomberg

    Market plunge is “going to hurt.” ‘Consequences’ Ahead for the City [New York Sun]

    / Aug 2, 2007 at 1:37 PM
  • Market Plunge

    Glitch Tuesday, Revisited

    According to the homeless guy asking for change outside our building Brandweek, every time Vanity Fair ad pages hit a record high, the stock market crashes. They’ve come to this conclusion based on a “highly scientific study by Short Takes” (and a bucket of crystal meth). VF’s March 2007 Hollywood edition (“Our Biggest Issue Ever!”) […]

    / Mar 29, 2007 at 5:25 PM
  • Market Plunge

    The Opposite Of Irrational Exuberance

    James Surowiecki is the guy the New Yorkerpays to explain the economy and the stock market to its readers. This week he explains why the sell-off two weeks ago was not the crash of 1929, which is presumably within living memory for most New Yorker subscribers. Some of Tuesday’s drama, then, was the result of […]

    / Mar 12, 2007 at 1:31 PM
  • FOREX, Market Plunge

    China Overheats; Japan Unwinds Its Carry Trade; Carney Gets Laid

    Earlier this morning, we discussed the failure of dissertations on the yen-carry trade, namely the one in yesterday’s Journal, in that they failed to get Carney some ladies. Who knew that financial ennui wouldn’t turn people on? Apparently, not us. We remained upset about this for the remainder of the morning when, suddenly, like an […]

    / Mar 6, 2007 at 3:35 PM
  • Market Plunge

    Last ‘Over Reaction Tuesday’ Post EVER!

    We get it—you’re sick of hearing about last week’s drop in the Dow. Whether this is actual independent thinking or the result of the threatening emails you’ve received from John Thain’s jabronis, we’re not sure, but we respect your right to ask us to, as one email put it, “cool it with the Dow crap.” […]

    / Mar 6, 2007 at 11:21 AM
  • Market Plunge

    Wanted: What Should We Call Last Tuesday?

    One of the most disappointing things about the reaction to last Tuesday’s market action has been the failure of a good nickname for the day to develop. Glitch Tuesday? Plunge Tuesday? Thain’s Bane? We’re frankly at a loss. Which is why we’re turning to Time magazine’s Person of the Year to ask for nomination. That’s […]

    / Mar 5, 2007 at 4:15 PM
  • Hedge Funds, Market Plunge

    Quiet, Too Quiet: Hedge Funds And Last Week’s Market Plunge

    Financial journalists are scrambling to report on the big winners and losers among the hedge funds from last week’s market turmoil. So far there has been lots of speculation and rumor but very little in the way of confirmed news about specific hedge funds. Lots of money was lost by hedge funds last Tuesday. According […]

    / Mar 5, 2007 at 2:08 PM
  • Market Plunge

    Remember, Gary, It’s Just Food– It’s Not Love

    Gary Weiss has some good tips for coping with any market blues you might have regarding that thing that happened last week, including but not limited to eating chocolate and shooting heroin. Mostly good advice except for the fact that we’re pretty sure freebasing is more the route you want to take in this situation, […]

    / Mar 5, 2007 at 1:59 PM
  • Market Plunge

    Market Plunge? Let’s Go To The Chart!

    Last night we had a good conversation with one of our favorite wise men of the markets. He mentioned that a couple of percentage points drop in the market is not exactly a historically unprecedented or terrifying event. It definitely shocked people who haven’t seen this kind of volatility in a while but grown-ups should […]

    / Mar 2, 2007 at 12:07 PM
  • Market Plunge, traders

    On The “Testicularity” of Equity Traders

    We’ve been gagging to use the word “testicularity” ever since we heard Mark Haines invent it on CNBC back in January. Finally, this week’s market plunge gives us an excuse. You see, our reporting on the reaction of a trader stunned by Tuesday’s market plunge has attracted a lot of attention. Not the least from […]

    / Mar 2, 2007 at 10:03 AM
  • Electronic Trading, Exchanges, Glitch, John Thain, Market Plunge, NYSE, Regulators, SEC, Wall Street Journal

    Thain: There Is No Investigation! Hybrid Rocks!

    Apparently no one at the SEC tipped off John Thain that they are looking into the alleged problems with the hybrid trading system. John Thain, head of the New York Stock Exchange, told CNBC’s Bob Pisani that there is no investigation by the Securities and Exchange Commission of trading problems at the the Big Board […]

    / Mar 1, 2007 at 1:05 PM
  • Market Plunge

    Thain Doesn’t Want To Hear It

    Any of the unlucky traders who didn’t get a second to give John Thain the finger as they were shown the door during the NYSE’s killing spree over the last few months—either because they were being shoved out of it too quickly or because it was too cold and they were wearing mittens, in which […]

    / Mar 1, 2007 at 12:48 PM
  • Electronic Trading, Exchanges, Glitch, Market Plunge, NYSE, Specialists

    GlitchWatch: John Thain In Defense of Specialists?

    Reading the remarks of John Thain is the new Kremlinology. As we noted in our earlier item, Thain defended the hybrid system yesterday. But one thing we didn’t get around to noticing until we re-watched the interview this morning is that hain defended not just the electronic aspects of the hybrid system but the human […]

    / Mar 1, 2007 at 11:34 AM
  • Electronic Trading, Exchanges, Glitch, John Thain, Market Plunge, NYSE

    GlitchWatch: Was Thain’s Defense of Hybrid Pure Spin?

    Late yesterday afternoon we reported on New York Stock Exchange chief executive John Thain’s interview on CNBC explaining why traders had been told to keep their books open past 4 PM. But there was more than just that to the Thain interview. The NYSE chief also came out swinging—or what passes for swinging for the […]

    / Mar 1, 2007 at 11:09 AM
  • Market Plunge, Wall Street Warriors

    Explaining The Markets, With Tim Sykes

    When it rains, it pours, as they say. Yesterday we treated you to a little update on everyone’s favorite Wall Street Warrior, Tim Sykes. Today, he was good enough to offer us some insight on The Dow, Punxsutawney Phil, and his friend/housekeeper’s feelings on the scrutiny the media’s placed him—the housekeeper—under, of late. Let’s talk […]

    / Feb 28, 2007 at 4:22 PM
  • Market Plunge, Reader Poll

    What Caused Yesterday’s Plunge? A DealBreaker Reader Poll.

    You called today’s market-action correctly in this morning’s Reader Poll, reading the early signs of morning rise as an indicator that the Dow would close up for the day. It’s up nearly sixty points as we post this item. Good work! So now we’ll turn to you to answer the only remaining pressing question of […]

    / Feb 28, 2007 at 3:56 PM
  • Business Media, Market Plunge

    Fool’s Errand: The Folly Of Explaining The Causes Of Market Movements

    One of the things we avoid like the plague (and other clichés!) over here at DealBreaker headquarters is trying to explain the markets. Sure, we’ll link to an entertaining or surprising analysis. Say, like this one on Gawker from banker-turned-novelist Dana Vachon. But we don’t put much stock in the business of journalists explaining why […]

    / Feb 28, 2007 at 3:43 PM
  • Market Plunge

    What Really Caused the Plunge: The Gossip Kids Are Thinking Butterflies

    With nobody quite sure as to what happened yesterday—was it a ‘Glitch’? Two? Ten? Elves? Ben Bernanke, a couple of Quaaludes and a voodoo doll?—we figured it would be best to turn to a media and celebrity gossip site called for some answers (who do you think got us to understand Enron, huh? The […]

    / Feb 28, 2007 at 3:11 PM
  • Glitch, Market Plunge

    The Great Glitch Story Not Getting A Great Reception

    Some of the wiser voices on the internets are pointing out that the Great Glitch story-line doesn’t exactly pass the smell test. Eddy Elfenbein at Crossing Wall Street says: One more word about yesterday: The sell-off was not caused by a computer glitch. The sell-off was already happening. The glitch was in the accurate reporting […]

    / Feb 28, 2007 at 2:06 PM
  • Market Plunge

    Traders in the State of Nature

    [Cross-posted from the original on SuperMogul.] “Where were you the day the market sort of blipped?” isn’t necessarily an inappropriate question, considering the ‘once in every half-decade or so’ nature of yesterday’s “correction.” We’ve amassed some accounts of the bloodbath and its aftermath. It does kind of sounds like some sort of Civil War recount […]

    / Feb 28, 2007 at 1:34 PM
  • Electronic Trading, Exchanges, Glitch, Market Plunge, NYSE, Specialists

    The Vinnys Fight Back!

    Color us skeptical when it comes to all the blather blaming yesterday’s sell-off on a computer glitch. Or glitches. Why? Because it seems the main thing that caused the computer glitch was so many sell-orders pushing through the system at once. If selling caused the glitch, how could the glitch cause the selling? Okay, maybe […]

    / Feb 28, 2007 at 12:40 PM
  • Bears, Market Plunge, video

    Bear Raid On Wall Street

    You really don’t need an explanation for this video, do you?

    / Feb 28, 2007 at 11:16 AM
  • Market Plunge

    My Life Is Over

    I’d like to break from the royal “we” for a moment because I need to get something pretty serious off my chest. I woke up this morning in a cold sweat, my heart pounding and an overwhelming sense of dread coursing through my body. Could it be possible that I’d lost everything? All my money, […]

    / Feb 28, 2007 at 10:50 AM
  • Market Plunge

    Larry Summers Was Right!

    Those of you who miss Keith Hahn‘s writing on DealBreaker will probably want to head on over to our little brother SuperMogul, our site for c-level executives and people who aspire to view the world from the corner office. Here’s Keith on Larry Summers Nostradamus act at Davos: Maybe women are naturally bad at math […]

    / Feb 28, 2007 at 10:15 AM
  • Market Plunge, Reader Poll

    The Dow Jones: Up, Down or Flat?

    The question of the hour is “which way is the market headed today?” The answer is obviously “no-one really knows.” But don’t let ignorance stop you from making your opinion heard. Let us know where you think the market will end up at the closing bell today. We’ll keep this poll open until around noon. […]

    / Feb 28, 2007 at 9:18 AM
  • Market Plunge

    Stock Market Plunge Special Edition: More Coverage, Real Reporting And Some Drinking

    Last night we stayed up late drinkingworking to bring you some extra coverage on the extraordinary plunge in the major market averages. Since many of you probably don’t read past the “Opening Bell” in the morning, here’s a quick guide to the afterhours posts. • Moments of Terror. A trader tells us what it felt […]

    / Feb 28, 2007 at 9:01 AM

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