Last Thursday’s market crash will be another one for the history books. To say the markets took a wild swing on May 6, 2010 is a bit of an understatement.
Here are interesting pieces of the puzzle as well as some fun videos from real time on Thursday.
In case you missed the crash, here’s a glimpse into what happened on Thursday afternoon:
Temporarily, $1 trillion in market value disappeared, according to the Wall Street Journal.
A fun video during the crash on Thursday. It gets entertaining about a minute in.
If you’ve been wondering about the differences between index funds and ETFs, here’s a big difference:
It was the biggest one-day point decline (998.5 points) on an intraday basis in Dow Jones Industrial Average history per CNN.
During the crash, I was locked out of our Schwab account, as were many investors at various brokers. It sounds like Scottrade [1] help up perfectly according to a Fatwallet discussion.
The stocks of eight major companies in the S&P 500 fell to one cent per share for a short time, according to Wikipedia.
For comparison, Black Monday on October 19, 1987, the Dow Jones dropped by 508 points (22.61%).
296 stocks’ trades were canceled. 3 days later, 12 more were added to the canceled list.
Another fun video during the crash. Watch his reaction to the price of P&G during the crash.
The cause of the crash still remains unexplained. Although there are lots of theories….