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The money was coming out of money market accounts. If the DOW went Up 400 pts, perhaps the money was going /from/ money markets and /to/ the market.
by pj 18y ago
The money was coming out of money market accounts. If the DOW went Up 400 pts, perhaps the money was going /from/ money markets and /to/ the market.
- jah 18y agoIf true it certainly highlights the paranoia of the day. Keep in mind, the DOW lost approximately 800 points in the three days preceding Sept 18th. Were investors in such fear of a banking collapse that they chose to divert funds from "secure" money markets to the insanely volatile stock market?