Anyone know why the selloff at 3pm?

Quote from stktrdr:

The numbers have NOTHING to do with it.
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Yes they do even if it isnt obvious. The markets tend to be efficient which means that events are discounted before they happen.
 
Quote from stock_trad3r:

I scanned the news and didn't find anything unusual. Google news, ap, marketwatch

The markets seem to be recoving though

I suspect it was profit taking

What is interesting to note is the dow dropped 20 point 5 minutes into the open which indicates that somne larger funds are unloading today. They porobably took profits at 3PM as well.
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Apparently Greenspan was saying the Chinese mkt is due for a huge sell off. WHy anyone still listens to him is beyond me.
 
Persian Gulf tensions + Alan G warning on China + 5% yield on 30 year = No Chance for rate reduction from fed- one of the main drivers of this rally leg. + Earnings 90% over (other leg) + Big Durable goods forward looking number tomorrow could be bad since durable goods go into new houses = selloff this afternoon. + high price of gas = little consumer spending. Cascade sell off tomorrow, recovery friday and a very ominous tuesday opening after Shanghai experience's a Memorial Day Massacre.... never dull in the world of stocks!
 
It's not so much about the Chinese mkt "imploding" it will be more about the inept response of the Chinese authorities...

That's where the instability will come from.
 
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