Seriously? We were expecting that Tuesday would be an unusual day on Wall Street, and that was definitely the case. At the low point, the Dow Jones industrial average was down 567 points, but at the closing bell it was up 567 points. That is a swing of more than 1000 points, but what is more surprising is the exact symmetry of those numbers. Is this just some sort of bizarre coincidence?
At the opening bell, stock prices collapsed and many were concerned that we were heading for another really bad day for investors. According to CNBC, the Dow was down 567 points at the lowest point…
The Dow Jones industrial average opened with a big whoosh lower, then rallied all the way back. As of 3:41 p.m. ET, the Dow is 600 points higher and trading at a new session high. At its session low it was down by 567 points.
But then momentum shifted and the Dow soared. By the end of the Day, the Dow Jones industrial average was up 567 points. The following comes from CNN…
The Dow plunged 567 points at the open on Tuesday and briefly sank into correction territory — a drop of 10% from its record high. But those losses quickly vanished, and the index ended the day up 567.
It was the Dow’s biggest point gain since August 2015 and the fourth-largest in history. The percentage gain of 2.3% is the biggest since January 2016.
It is not unusual to see market swings of this magnitude during times of high volatility. Even during times of panic, at some point the sellers get exhausted and investors looking for buying opportunities come surging in. On Tuesday, this shift in momentum came almost immediately after Click to see the original article