Is The Party Over?
It was the most volatile day in the history of the stock market. Both the Dow Jones industrial average and the Nasdaq plummeted more than 500 points before staging a remarkable recovery. Thousands of margin calls went out around the country. Accounts were closed out. Novice investors who had made thousands in a few months saw their bounty wiped out in the course of a few hours. Even seasoned investors, who were coming to believe that Wall Street had signs pointing in one direction--up--were shaken. Is this just the beginning of a major market shakeout? Is the party over?
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