Within 1 day of the crash, the Nikkei 225 index was back to its January value and the Dow Jones Industrial Average back to its May value.
There were reasons for minor pessimism, but not a crash. Nothing geopolitical happened. Fundamentals are sound. Economy is doing fine-ish.
This is another example of high frequency traders causing a bigger problem than market signals their algorithms responded to.
I don’t know the best way to melt these snowball effects, but it’s not beneficial to society.
Jeremiah Lee /
npub1h3…4aqg5
2024-08-06 11:34:29
Author Public Key
npub1h3yk5lue66wzaxlkdl9euwvt67cl0tnn8tgq8e4cfzx7htc29zdq94aqg5Published at
2024-08-06 11:34:29Event JSON
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"content": "Within 1 day of the crash, the Nikkei 225 index was back to its January value and the Dow Jones Industrial Average back to its May value.\n\nThere were reasons for minor pessimism, but not a crash. Nothing geopolitical happened. Fundamentals are sound. Economy is doing fine-ish. \n\nThis is another example of high frequency traders causing a bigger problem than market signals their algorithms responded to.\n\nI don’t know the best way to melt these snowball effects, but it’s not beneficial to society.",
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