RE:Vet panic sellingIt is widespread. The good news is that each half hour the selling pressure is less and less so hang in there. Can not keep selling much more like this so should be a rebound very soon.
Also when the asset managers make an asset mix shift they run programs to rebalance all porfolios all at once. THe bond managers start buying bonds anticpating the cash coming in from the sale of equities. The managers are given directions by the asset mix committees. They must raise cash to implement it. They plug in new targets for each stock in their portfolios. Easy to sell energy as a source of cash and essentially all stocks are paired back and some have new targets that are lower. It hits the trading desk and must be completed by days end to satisfy the asset mix committees decision who want lower exposure to equities.
Total indiscriminate at some point and nothing to do with fundamentals as equity managers are being told to sell. This stuff happens all the time in addition to the little guy panicking.
splurge