Market meltdown
Posted May 7, 2010 04:36:40 AM.
This article is more than 5 years old.
Japan’s Nikkei Index is feeling the effects of the European debt turmoil and yesterday’s heart-stopping plunge on the North American markets.
The Nikkei lost 331 points or 3 per cent.
Reports say the selloff in North America on Thursday may have been triggered by a computer glitch, or a trader who simply hit the wrong key.
700 billion dollars in market value was wiped out in only ten minutes before the markets staged a partial recovery.
The Dow lost 348 points.
In Toronto, the S-and-P T-S-X dropped 452 before bouncing back to end the day with a loss of only 33-points.
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