Dont they close the Stock market...

[DammitJanet]

if it drops 700?

For some reason I think I learned that in some economics class. Im watching it knocking on 600 and by the time this actually posts it may be over 600.

 

[slsh]

I thought it was a percentage of .... volume maybe? I think the last time they closed it was in '87. Trying to find criteria, but in '87 it lost 22+%... I'll keep looking.

 

[DammitJanet]

down 640

 

[slsh]

I can't find any reference that it was actually shut down on 10-19-87 - but I do find it interesting that the Dow closed at 1700 and change on that day, and today even with it being down now at 724, its 10420. And in spite of that "crash" in '87, the market posted a gain for the year that year.

I don't know - it's all magic to me (a noninvestor, obviously, LOL).

 

[DammitJanet]

Oh gosh....now they are saying they might not come back until wednesday? Because of some holiday? Do what? Excuse me? LMAO...ok...pulease!

 

[klmno]

Taken from CNN's website- home page:

Stocks skidded this afternoon, with the Dow's nearly 778-point drop being the worst single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan.

 

[DammitJanet]

I actually called my car loan to make sure I still had one...lol.

 

[Hound dog]

Nichole just looked it up. It was supposed to be down over 800. Soooooooooooo not good. They're expecting it to plunge again tomorrow.

 

[KTMom91]

The last time I took an economics course was in 1982. If Miss KT had Econ this semester instead of next, I'd get her to explain it.

 

[gcvmom]

It's called a circuit-breaker -- a threshold that triggers a halt in trading. Here's a link to the lastest levels defined by the NYSE:

http://www.nyse.com/press/1206959051080.html