Arguably most people were oblivious to the sudden steep fall in the Dow Jones Industrial Index (the main index of the New York Stock Exchange). Not me – as I sat munching breakfast and grizzling about yet another market fall of about 300 or so points (and a parallel fall in certain exchange rates), my attennae were suddenly directed to a squarks of concern from the television – for the next twenty minutes, it was incredible to watch the figures tumble down from the mid-300s, to -500, past -730, then past -800, easily race on down to past -950 and almost to -1000. The cause ? Well, it seemed coincidental that as the market raced past -500, the police in Athens were breaking up the protestors outside the Greek Parliament. If it was the case, then someone had started to panic outrageously and computer trading just intensified the spiral down. As I found out (and was reported later), it seemed that a trade in Proctor & Gamble shares gor skewed. But I do wonder…….
No coffee required this morning !