10.5%the Nasdaq’s decline; it’s in a correction source
» Today’s action: It wasn’t much better than yesterday, honestly. The market bounced back and forth all morning before staying firmly in the down column. The Dow lost 140 points today, or 1.3 percent of its value. Sucks to own stocks, doesn’t it? source
It was a bunch of water bottles, guys. Six days after the last incident, and just a couple of days after a false alarm involving the RFK bridge, part of Times Square was evacuated again because of a package that arrived about an hour ago. Sorry for the rough week, New Yorkers. We’ll keep you posted. (Update: CNN is reporting that the incident, much like the RFK bridge incident, was a false alarm. Whew. Between this and the stock market, our blood pressure has been going way up lately.)source
He threw himself in front of a train and was killed. The commuter rail system’s executive director, Phil Pagano, killed himself near Crystal Lake, Ill. earlier this morning. Pagano, who had been in the position since 1990, was put on paid administrative leave last month after he gave himself an unauthorized $56,000 bonus last year. Wow. source
+88number of seats the Tories gained (not enough to lead outright)
-94number of seats
Labour lost (enough to fall out of power)
-5number of seats Lib Dems lost (so much for big gains) source
» So what’s next, anyway?: With the hung Parliament, nobody has enough votes to lead completely, so right now, the two major parties are trying to court the Liberal Democrats. Whoever can win them over will have proxy leadership over Parliament.
A computer glitch caused yesterday’s crash. High-speed algorithmic trading, which accounts for nearly 60 percent of all trading volume, is already under scrutiny by regulators due to the financial crisis. Now, thanks to yesterday’s buttcrack, some Senators are suggesting an investigation. Many are concerned that the automated system can fall out of the control of regulators, causing cluster#(&@s such as the one we saw yesterday. With good reason. source