Dow Jones down 21 percent in 9 days: Wall Street Panic

The Down Jones Industrial Average showed its seventh consecutive loss tumbling 7.3 percent or 678.91 points settling at 8,579.19 at close exactly one year after the Dow hit its all time high. As Wall Street began to panic on Thursday as sellers erratically dumped shares and potential buyers did nothing and watched as the stocks took a battering.

As the world’s governments and central banks work on improving the liquidity by unfreezing the credit market and fighting off a severe recession investors seem unconvinced.

The Short selling ban was lifted yesterday by the Securities and Exchange Commission in a bid to get the markets rolling again. It was said that short sellers were contributors to the stock market collapse as they bet against stocks they thought would fall.

Source: sfgate