Posted on 28/02/07
2:59 p.m. $60-billion gone in a New York minute
You know the market is taking a serious tumble when the world's biggest stock exchange and benchmark stock index can't keep up with the selling. The New York Stock Exchange set volume records yesterday as China-fuelled fears of an economic slowdown triggered a massive retreat, including a gut-wrenching, one-minute afternoon swoon that lopped $60-billion off the market capitalization of the 30 blue-chip companies in the Dow Jones industrial average.
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