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Volatility Reigns On Wall Street |
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Written by Value Seeker
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Wednesday, 28 November 2007 |
After a sharp drop Monday, stocks rallied again Tuesday, with most of the indexes up 1.5%
Stocks were also up significantly last Friday, meaning the market has had wild movements the past 3 trading days.
Stocks were up on Tuesday due to news that Abu Dhabi's sovereign wealth fund will invest billions into Citigroup. This may have eased fears on the street that foreign countries would yank their US investments due to the falling dollar. Oil was also down sharply on Tuesday.
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