Stock Decline: It’s Not Just About Greece
(BusinessWeek.com) — As the Dow Jones industrial average plunged 9.2% today — the biggest intraday decline since Oct. 19, 1987 — cable news channels were showing protests in Athens. The video gave the impression that the stock decline and the Greek fiscal crisis were directly linked. Not so fast. Many suspect there was some technical problem that spooked the markets and sent stocks diving, then dramatically rebounding this afternoon.
