Friday, August 5, 2011

Wild Ride on Wall Street: Worst Week Since 2008

Posted By on Fri, Aug 5, 2011 at 3:34 PM

Market-watchers could complain of whiplash following one of the craziest days on Wall Street in more than a year. More than 15.9 billion shares changed hands today, more than twice the daily average volume. But by the closing bell, the Standard & Poor's 500 closed down less than a point.


Citydesk has been keeping an eye on something called the "fear index," better known as the CBOE Volatility Index, or VIX, which rose as high as 39.25, its highest level in more than a year.

For the week, the Dow Jones Industrial Average fell 5.8 percent, the S&P 500 was down 7.2 percent, and the Nasdaq was off 8.1 percent. Bottom line: It was the worst week since November 2008.

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