Wall Street sheds some 360 points!

Thursday saw the Wall Street shed some 360 points and head downtown as the manufacturing index fell. These days it seems that even the lightest jitter in the financial markets sends the investors scurrying about. As things stood, the newspapers came out the day before, talking about how the Stock markets are doing well and how there seems to be a new momentum in the market.
I had mentioned then itself that most of the news agencies had gotten it wrong and I was proved right today as the Wall street shed some 360 points and headed downtown. It is not that I wanted to be proved right but rather that all the indications are that the Wall street is in the grip of the bear and it is going to take more than the beige book to shake it off!