"The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets" If the PPT has not be working during multiple +7% fal

"The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets" If the PPT has not be working during multiple +7% falls on the Dow, they are not doing their job. President Ronald Reagan created the body in March 1988 after the 1987 crash. The PPT has been "stabilising" (aka rigging) the stock market for nearly 40 years. How they operate and how much money they make is open to speculation. But it is widely believed that they purchase large-cap thinly traded stocks in the past few minutes before the close to minimise closing losses. TL: DR - The PPT exists to minimise volatility during difficult times and they are doing their job.