Dow down more than 300 points
Dow slides over growth fears, IMF warns global economy slowing down. CNN's Cristina Alesci reports.
Good afternoon everyone! Welcome to the lead. We are going to begin with some breaking news in our money lead. You hear the sound of the bell, the market is just closed. And the Dow after its biggest trading day of the year has now fallen off a financial cliff, plummeting more than 330 points. Lets go to CNN business correspondent Chirstina.
Chirstina, it's been a topsy turvy two days for the markets to say at least, what is behind the today's massive slide?
Well, there is not one thing that you can point to, but volatility is definitely in the market, when you start a cycle like this, it's very hard to stop, Jake you have to keep in mind that out of this month alone, there have been five days of the Dow has moved over 200 points, so you are talking about a very nervous market, and just to take you through what happened in the past two days alone, yesterday we had federal reserve come out and said look we still think the economy needs more help, so it seemed to indicate to investors they are going to stick with this low interest rate policy that gave investors a lot of optimism, we saw a big rally, and now investors maybe wanting to take some money off the table, maybe hedge the position, and that's why you see a little bit of slide, you also have to keep in mind that the number of trade happening are very low, so
when you don't have that much trading going on, the mood tends to be way dramatic change.
Christina in New York, thank you so much, appreciated.
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