Anyone think it might be possible to get an 'official' speculation on this? Or is NC too remote for any Wallstreet news firm to give a darn?
And also, on the topic of whether or not we actually caused this... it's really not that hard to imagine. These trends tend to work like avalanches, and it all it takes is a little gust of wind to start an avalanche.
Similar to how gas prices were during the gulf war. All it took to alter gas prices, was for an Iraqi to fart in the general direction of a soldier from a U.N. nation.
In this case, assuming it was us, here's what I'd say happened. There's all different kinds of investors. Some are fiercely loyal and will give stocks a long-term chance. Others trade by the nano-second... constantly. Some of the latter are as timid as deer, and will flee into the forest the moment they hear a twig snap. No doubt the rally scared those guys off pretty quick. But they're also not the major investors so not much harm done. In the grand scheme of things, the damage probably isn't so bad thus far. But, I think the minor panic might've been enough to incite a slightly larger one. Other investors saw the lowbies panicking, (through the stock value) and on top of that saw the bad press. And there you have your snowballing effect (maybe).