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Stock Volatility Datapoint Of The Day

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by Felix Salmon
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Oct 29 2008 4:15pm EDT

Stock Volatility Datapoint of the Day

We're used to big stock-market swings in the last hour or even half-hour of trading. But the last ten minutes? The Dow was at 9,350 at 3:48; ten minutes later, it was at 8,960. That's a drop of almost 400 points, or 39 points a minute.

At that rate, it would have taken just 230 more minutes -- less than four hours -- to go all the way to zero. Never have those decimal points in Dow reports seemed so silly: we're rapidly reaching the point at which all you can do with any meaning is round to the nearest thousand.

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