Another Black Monday
Fox News Business Channel’s Stuart Varney reacts to Monday’s 1089-point collapse in early trading, the biggest-ever drop in the Dow Jones Industrial Average. The Dow recovered slightly, closing the day with a 588-point drop. A visibly excited Varney tells viewers, “I do believe the circuit breakers kick in if you hit 7 percent. We’re at 6.4 percent now, if we hit 7 percent the action closes down on the New York Stock Exchange.” The market eventually reached 6.62 percent, but rallied late, avoiding a shutdown.
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