An already tumultuous day took a terrifying turn in afternoon trading on Thursday, as several major U.S. indexes lost multiple percentage points in a matter of minutes before reclaiming big chunks of the ground lost. At 2:40 on Thursday, the Dow Jones Industrial Average was down about 415 points, putting it on pace for one of its worst days of the year. But the worst was yet to come; by 2:47, just seven minutes later, the Dow had plummeted another 583 points, putting it down nearly 1,000 points for the day. In the next ten minutes, the Dow jumped more than 600 points; by 2:57 it was down “only” 388 points on the day. [click to continue…]
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