{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='American stock market falls heavily as economic woes drive sell off' data-url='/boclips/videos/5c54bbb6d8eafeecae127246' data-video-url='/boclips/videos/5c54bbb6d8eafeecae127246' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAmerican stock market falls heavily as economic woes drive sell off\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Zoom out of traders at New York Stock Exchange2. SOUNDBITE (English) Keith Bliss, trader with Cuttone and Company:\"And this is how skittish and temperamental the market is, it reacts not only to factual aspects and fundamental aspects...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Zoom out of traders at New York Stock Exchange\u003cbr/\u003e2. SOUNDBITE (English) Keith Bliss, trader with Cuttone and Company:\u003cbr/\u003e\"And this is how skittish and temperamental the market is, it reacts not only to factual aspects and fundamental aspects but also rumours. So there was a rumor that S\u0026amp;P was going to downgrade France debt, there''s rumours that there are French and German banks are in trouble because they''re holding a lot of the sovereign debt over in Europe.\" \u003cbr/\u003e3. Mid of trader on floor of NYSE\u003cbr/\u003e4. SOUNDBITE (English) Keith Bliss, trader with Cuttone and Company: \u003cbr/\u003e\"And then what you have over here in the US market is that there''s all these cross lines between US banks and the European banks, so now the thought is that if Europeans are in trouble with their own capitalisation ratios, it''s going to impact the US banks.\"\u003cbr/\u003e5. Mid of traders on floor of NYSE\u003cbr/\u003e6. SOUNDBITE (English) Keith Bliss, trader with Cuttone and Company: \u003cbr/\u003e\"People are looking at the Fed''s announcement yesterday, the US economy is going to struggle, it''s going to be slow growth, it''s, as they say at Pimco, it''s the new normal.\" \u003cbr/\u003e7. Tilt down of floor of NYSE\u003cbr/\u003e8. SOUNDBITE (English) Keith Bliss, trader with Cuttone and Company:\u003cbr/\u003e\"The problem you have here in the US is, I won''t say that riots will occur, but we''re on a very tenuous step right now. The Fed is basically out of bullets, it''s similar to those Hollywood movies where you see the guy fire all his bullets and now the only thing he has left to do is throw his gun.\" \u003cbr/\u003e9. Wide of trader walking floor of NYSE\u003cbr/\u003e10. SOUNDBITE (English) Jason Weisberg, trader with Seaport Securities:\u003cbr/\u003e\"The market doesn''t seem that schizophrenic from a trader standpoint in that the trend is definitely down, we only had one day and when you have nine or eight sessions of straight down, you are going to get like a dead-cat bounce, so to speak.\" \u003cbr/\u003e11. Tracking shot of NYSE floor\u003cbr/\u003e12. SOUNDBITE (English) Jason Weisberg, trader with Seaport Securities:\u003cbr/\u003e\"I think that the culmination of what''s going on with European sovereign debt issues, what''s going on here, we don''t have sovereign debt issues, but as long as the United States continues to spend more money than it takes in, and until they make a real concerted effort to contain the deficit, there''s not much room for improvement here.\" \u003cbr/\u003e13. Close up of trader''s hands\u003cbr/\u003eStocks were falling in midday trading at the New York Stock Exchange as investors turned their attention back to the weak global economy and Europe''s debt problems.\u003cbr/\u003eThe Dow Jones industrial average was down 456 points, or 4.1 percent, to 10,779, erasing its 429 point gain from Tuesday, after the Federal Reserve pledged to keep its key interest rate at nearly zero into 2013. The Fed also said growth would be slow.\u003cbr/\u003eThe S\u0026amp;P 500 was down 45, or 3.8 percent, at 1,127. The Nasdaq was down 83, or 3.3 percent, at 2,399. Gold and Treasurys were rising as money poured into investments considered safe.\u003cbr/\u003eTraders blamed rumour for the market''s skittishness. \u003cbr/\u003e\"There was a rumor that S\u0026amp;P was going to downgrade France debt, there''s rumours that there are French and German banks are in trouble because they''re holding a lot of the sovereign debt over in Europe,\" said Keith Bliss, trader with Cuttone and Company. \u003cbr/\u003e\"The thought is that if Europeans are in trouble with their own capitalisation ratios, it''s going to impact the US banks,\" Bliss added. \u003cbr/\u003eFrench President Nicolas Sarkozy cut his vacation short amid concerns that France could become the next AAA-rated country to get downgraded. The French CAC 40 stock index fell 5.5 percent.\u003cbr/\u003eJason Weisberg, a trader with Seaport Securities, said the general trend in the markets was down. \u003cbr/\u003e\"We don''t have sovereign debt issues, but as long as the United States continues to spend more money than it takes in, and until they make a real concerted effort to contain the deficit, there''s not much room for improvement here,\" he said.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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