Covering Yesterday's Market Fall...

The New York Times’ Brian Stelter writes about the business nets covering yesterday’s market mess…

The anchors on CNBC, Bloomberg and the Fox Business Network didn’t panic, but they did turn their collective attention to the Dow between 2:40 and 2:50 p.m. Eastern when the market nosedived. “I don’t mean to sound like a broken record here, but this thing just continues to break records,” the Fox Business anchor David Asman said of the Dow’s drop.

At times, the cable anchors were talking over one another, making it especially hard to make sense of what was being said. (Four minutes of CNBC’s coverage are up on YouTube, courtesy Business Insider.)

When the Dow was down more than 900 points and the CNBC anchor Erin Burnett observed that the Procter & Gamble stock had dropped 25 percent, Jim Cramer, the former hedge fund trader and the host of “Mad Money,” seemed to calm the conversation down a bit by basically saying “buy, buy, buy.”

About these ads