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Dow plunges 1,500-point at lows, set for worst daily point drop in history, on computer-driven selling
The Dow Jones Industrial Average was off more than 1,500 points at its lows on Monday, after a period of selling accelerated sharply headed into the close of the session. Amplifying the slump was computer-programmed trade set to dump shares at certain levels. According to traders, the Dow DJIA, -4.07% was set to trigger trades once it fell below 25,000, for example, and 2,700 for the S&P 500 SPX, -3.11% Most recently, the S&P 500 was off 82 points, or 3.1% at 2,675, the Nasdaq Composite Index COMP, -2.55% was down 178 points, or 2.5%, at 7,065. The Dow, meanwhile, lost as much as 1,500 points, and was most recently ... (full story)
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