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The "Plunge" was a 1% drop in the DJI average. Concerning, sure, but not nearly as huge as the graphs make it out to be.
by cube13 13y ago
The "Plunge" was a 1% drop in the DJI average.
Concerning, sure, but not nearly as huge as the graphs make it out to be.
- jacquesm 13y agoIf you could repeat that trick it would be a bit like a combustion engine. Every individual explosion doesn't amount to much in terms of force but a long sequence will get your car up to speed quite nicely.
- emini_guy 13y agoFor day traders it certainly was a plunge.
- mmanfrin 13y ago1% is huge.
- tedsanders 13y ago1% is huge in an absolute sense, but small in the impact it has on any one person. And small relative to some other news-driven price changes. Fair?
- brown9-2 13y agoA better chart: https://twitter.com/charlesforelle/status/326746314232692737/photo/1 https://twitter.com/charlesforelle/status/326746314232692737...
- deleted 13y ago[deleted]
- Rimpinths 13y agoIt was a pretty big deal. I ran some queries against some intraday data of a proprietary market index (kind of a cross between the S&P 500 and Russell 2000) and it was the biggest one minute drop (at -0.56%) that I found within the past year. For comparison, here are the top 5 that I found since 4/23/12: (1) 4/23/13 @ 13:10: -0.56% (2) 8/1/12 @ 14:14: -0.45% (3) 11/29/12 @ 11:41: -0.44% (4) 6/20/12 @ 12:33: -0.38% (5) 12/31/12 @ 13:47: -0.35% As best as I can tell from the news on those days, (2) and (4) were related to Fed announcements and (3) and (5) were related to the fiscal cliff.
- cube13 13y agoI agree that it's a big deal. But I think a lot of people are reacting to the images of the graphs, not to the actual numbers that the graphs represent.