About the Show
Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.
On the Next Episode of The Lead
We've moved! Come join us at our new show page.
Slow economic growth, rising Ebola fears send markets tumbling
New York (CNNMoney) – Don't blink. Otherwise you're bound to miss a wild swing in this increasingly-violent stock market.
It was a memorable day on Wall Street as the Dow plummeted 460 points before staging a late rally to end down "only" 173 points. The Nasdaq briefly fell into correction territory, indicating a 10% drop from a prior high, but rebounded sharply to finish the day barely in the red.
"It was an emotion and panic-filled day both in and out of assets. You flushed out a lot of panicked longs and you're getting a knee-jerk bounce. What this means going forward, I don't know," said Peter Boockvar, chief market analyst at The Lindsey Group.
Late-day heroics: The factors behind the early losses were obvious and plentiful: slow economic growth, rising Ebola fears and continued uncertainty about the Federal Reserve. The reasons for the rebound were less clear, though beaten-down stock prices appeared to entice buyers to step off the sidelines.
soundoff (No Responses)