February 27, 2007
Reported by KPLC Staff
Many people are happy that the trading day is over.
Led by a fall in the Chinese markets this morning, U.S. stocks tumbled at a rapid rate today falling as low as 546 points at one point.
It's the biggest single day slide in 3 1/2 years. The huge sell-off fanned worries that stocks valuations are too high and that U.S. economic growth is slowing.
All three major U.S. stock indexes broke below their 60 day average and all 30 stocks in the blue chip Dow average were in the red at the closing bell.