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Wednesday, April 17, 2013
Flash Crash? DAX Germany, CAC France and FTSE U.K. Intraday Charts Show Drastic Drop in a Few Minutes Time
Germany's DAX experiences a small flash crash of sorts this morning. The markets took a funky drop south and it appears Germany was leading the band. However, similar drops occur with France (CAC) and the U.K. (FTSE). U.K. unemployment data was weaker suggesting a triple-dip recession. European auto sales are weak, Italy remains a mess, Cyprus is selling gold, all adding turmoil. There are rumors that downgrades are coming for several of the European nations which is likely causing the stress (rumor over Germany debt downgrade). The DAX drops from 7720 to 7520 in a few minutes time, -200 points, -2.6%. CAC drops from 3710 to 3620 in a few minutes time, -90 points, -2.4%. The FTSE drops from 6330 to 6237 in a few minutes time, -93, -1.5%. Something is going on in Europe, perhaps a wheel just fell off? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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