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Traders hit sell button as market shakes - literally. Dow falls 60 points, quickly recovers
NEW YORK (AP) ' The earthquake that began in Virginia and sent tremors as far north as New York briefly threatened to reverse Tuesday's stock rally. The Dow Jones industrial average sank 60 points soon after the quake hit, but quickly recovered. The Dow is up 270 points, or 2.5 percent, shortly before the close.
Lou Pastina, head of operations at the New York Stock Exchange, said the street-level trading floor didn't shake as many other local buildings did. Through television broadcasts, traders quickly became aware of the quake. Phone lines were jammed when traders called family and friends.
"It could have been opportunistic selling," Pastina said of the dip in stocks.
The building that houses the stock exchange was quickly determined sound enough not to require evacuation, Pastina said.