Comment

Greek Financial Crisis Going Viral

260
avanti5/06/2010 1:03:38 pm PDT

re: #256 lawhawk

There have been these kinds of problems in the past and some stocks have had individual halts placed, but the markets are skittish over the situation in Greece and concerns that it’s going to hit Portugal, Spain, and the UK next, so when the piece of bad news about PG hits (falsely, as it apparently turns out), then everyone goes into sell mode figuring that the other guys know something about the market and they don’t want to be left holding the stock either.

Satt: the markets have been looking at Greece and dropping value all week as a result, the possible error with PG looks like it was the catalyst for the major selloff.

How many billions were won and lost over this error ?