February 27, 2007
WOW, THE DOW IS TANKING TODAY, apparently in response to the Chinese market:
Stocks retreated sharply Tuesday after a sell-off in China rattled markets worldwide and data on durable goods orders came in well below expectations.
After reaching record highs on Monday, Chinaâ€™s stock markets reversed course drastically on Tuesday, plummeting in one of the biggest sell-offs in their history.
Analysts said there was no single reason for the plunge, but many have cautioned for months that the countryâ€™s volatile, roller-coaster market, which has been soaring almost nonstop for more than a year, appeared vulnerable.
The plunge in Chinese stocks had global reverberations. Stocks fell across Europe, with the major indexes in France, Germany and Britain all dropping more than 2 percent. In the United States, trading got off to a bad start and stayed that way.