February 27, 2007
Wall Street Takes A Hit As Chinese Market Stumbles
From the NYT:
Stocks plunged in New York today after a sell-off in China rattled markets worldwide and surprisingly weak economic data fanned fears that the economy may be more vulnerable to a downturn than widely thought.
A wide sell-off had pushed the benchmark Standard and Poor’s 500 stock index and the Dow Jones industrial average down around 1 percent for most of the trading day. But minutes before 3 p.m., stock prices plummeted, sending the Dow briefly down more than 500 points, or 4 percent. The S&P also fell about 4 percent at the same time.