Why did the market tank? There will be many takes from around the web, about how Ayatollah Ben is planning on stopping the flow of money by continuing to raise interest rates. But there may be other reasons....
- Negative stories are pouring in on "The Janice Dickinson Modeling Agency." After her over the top antics on Tyra Banks' "America's Next Top Model," Wall Street had priced in a fantastic summer series. When the news hit Reuters, longs were caught off guard and all they could do was sell all their stocks.
- Greatful Dead keyboardist Vince Welnick died. Stock investors are selling their holdings, buying a van and some glaucoma medication, and making a road trip for the funeral.
- The May market collapse was triggered when American Idol contestant Chris Daughtry was voted off the show. The market was able to rally briefly when investors thought that Daughtry might become the lead singer for the band Fuel. Daughtry has decided to turn down Fuel and told the Charlotte Observer, "I'm going to be doing my own thing." The Daughtry Bounce has ended, and the market sold off hard.
- Investors need to raise cash in order to buy pictures of Shiloh, the newborn daugher of Brad Pitt and Angelina Jolie.
- DC Comics decided to take on the GOP and their anti-gay marriage election-year antics, by creating a lesbian Batwoman. The market doesn't like political uncertainty, and sold off on the news.