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Sunday, November 8th, 2009

Are witches to blame for today’s market decline?

June 20, 2008 by Tisa Silver  
Filed under Investing

Are witches to blame for today’s market decline?

The Dow sank as much as 140 points heading into mid-day, and sits below the 12,000 barrier broken earlier this week. 
There could me many reasons for the decline: rising oil prices, downgrades, shaky earnings, or perhaps risky witches. 
Risky witches?  Yes, today is a special day for witching and in a Harry Potter-esque scene witches from all over the world have converged on U.S. financial markets to wreak havoc…I hope no one actually believed that ;)
Seriously, today is a day of ”quadruple witching.”  It happens four times a year on the third Friday of March, June, September, and December.
On these special days, four sets of derivative contracts expire: stock index futures, …read more


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