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Massive selling on lowered expectations precipitated the market churn.
Art Hogan Art Hogan, chief market strategist at Jefferies & Co, says second-quarter pre-announcement season won't be as disastrous as the first quarter, when Regulation FD and a slowing economy sparked massive selling.
And it's a massive selling point for our club.
GM would take massive selling, general and administrative costs out of the corporate structure.
Massive selling hit the technology-rich Nasdaq market especially hard as the Composite Index fell back 66.85 to 1949.59.
From a contrarian perspective, such massive selling suggests the sell-off is closer to its end than its beginning.
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"Do I expect a massive sell-off?" Mr. Spiro added.
"The massive sell-off on Wall Street triggered another selling in Tokyo," said Kazuki Miyazawa, market analyst at Daiwa Securities SMBC.
Investors may be wrong to think that the Treasury Department will end up stepping in, but the hope that it would clearly averted a massive sell-off today.
The next week may bring a surprise success, as happened recently when four performances of Wynton Marsalis's oratorio "All Rise" were a "massive sell out," Ms. Ames said.
(The massive sell-off in the equity markets, for instance, didn't happen when Lehman went under. It happened when the House failed to pass the TARP the first time).
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