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Brokers swamped as investors clamor for advice
September 1, 1998
Web posted at: 1:16 p.m. EDT (1716 GMT)
LOS ANGELES (CNN) -- A brief lesson in how the stock market works: When the number
of investors who want to sell is greater than the number who want to buy, prices
go down. That's what happened -- in a big way -- on Wednesday when the Dow lost
more than 500 points.
The sharp drop forced investors who may not have wanted to sell to reconsider.
Some joined the bailout. Others held tight, hoping for long-term gain. And many
decided to call their stock broker for advice on what to do.
Watch this report from CNN's Greg LaMotte and see for yourself why Wednesday was "a very, very hectic day" in the brokerage business.
|CNN's Greg LaMotte has the tale of the ticker tape