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What probably happened was that a comparatively modest fall in shares prompted a number of investors to sell, driving prices yet lower.
A 3% rise or fall in shares is often heralded by increasing volatility, much as an earthquake is preceded by tremors.
A 2.66percentt fall in shares of the energy giant Chevron weighed down the Dow at the end of a week when oil markets foundered.
Technology companies bore the brunt of the day's pain, led by an 8.1percentt fall in shares of Intel, the chip maker, after an analyst downgraded the company citing an expected slowdown in orders.
It followed a 15% fall in shares in Tokyo on Wednesday, when Mitsubishi admitted to falsifying data to flatter the mileage rates clocked up on the vehicles in question.
Among those who resigned was Gianfranco Lanci, the former chief executive, who left abruptly in April amid a row over strategy and after a sharp cut in Acer's revenue outlook that triggered an 18% fall in shares in four days.
Similar(48)
A fall in share prices of 20-30% might be salutary.
The 28% average fall in share prices since early 2000 has wiped $10 trillion off global wealth.
There were two explanations for Friday's sharp fall in share prices on Wall Street.
Another fall in share prices would have a big impact; certainly, lousy corporate profits make shares look overvalued.
On the other hand, the reduction in profit forecasts is outpacing even the fall in share prices.
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