Stocks recorded the worst performance since the 2008 financial crisis. The market was already sharply lower on widespread worries, but the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets. Tech sector also slumped, bellwethers lost 4%-8%. In after-hours trading LinkedIn jumped more than 3% after the co. posted a sharp gain in profit. Implied volatility surged to 1-year high on huge trading volumes.
Friday, August 5, 2011
Plunged worst since 2008 crisis
Stocks recorded the worst performance since the 2008 financial crisis. The market was already sharply lower on widespread worries, but the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets. Tech sector also slumped, bellwethers lost 4%-8%. In after-hours trading LinkedIn jumped more than 3% after the co. posted a sharp gain in profit. Implied volatility surged to 1-year high on huge trading volumes.
