The panic correction day has come in US..on a Monday..kind of a Black Monday, though it's not that black..just yet. The lower bull trend channel propped the fall today and if it gives in tomorrow, the next significant support is around 11.980 which can still keep the bull trend alive in the short to medium term.
It will be interesting to watch how much this deep US stock market correction will influence other stock markets, including the Romanian one which closed positive today though the stock futures market closed pretty much in red (a rather unusual event).
A possible explanation of the plunge..
"CNBC's Bob Pisani quotes several unnamed traders who have said that in light of the dollar drop, overseas investors are repatriating some cash, locking in their profits for the year, and eliminating additional currency risk . . . "
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