Dow Swings Decried by Mnuchin Have Plenty of Precedent: Chart
(Bloomberg) -- Markets overrun with high-frequency traders are partly to blame for all the 500-point days in the Dow Jones Industrial Average lately, U.S. Treasury Secretary Steven Mnuchin said on Tuesday. Also to blame: math. With the gauge near 23,500, it obviously takes a smaller percentage than it used to to travel that distance. Here’s a chart of all the years when daily changes in the equity benchmark have been wider than they are now -- in percentage terms.
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