Declining stocks on the New York Stock Exchange out numbered advancers by a ratio of over 32 to 1 on Thursday as major stock indexes plunged as much as 8 percent.
The Dow Jones industrial average .DJI dropped 480.73 points, or 4.42 percent, to 10,387.39.
This is what happens when nobody knows what is going to happen in Greece. Although this graph is one of those naughty ones that doesn’t start at 0 it is still pretty representative of what this uncertainty over Greece can do.
Well there is some certainty – but not the sort you want – the certainty of riots and public unrest and a savage possibly counterproductive fiscal retrenchment involving rising taxes and falling public spending.
Quite the graphic reminder for those involved in today’s election. A great deal is at stake today but we are only a small part of a global and unpredictable system.
May you live in interesting times
Aprocraphral Chinese Proverb