In reaction to fears over China’s economic health, Wall Street plummeted 1,000 points when markets opened Monday.
Even though the Dow Jones would rally and is currently about 450 points down on the day, the morning’s shock proved too much for David Faber to put into words while co-hosting CNBC’s “Squawk on the Street.”
FABER: I, I, I — I don’t — uh, I’ve got to, got to make some phone calls because these are enormous moves. And of course, when you see these kinds of moves, people think — they become self-fulfilling. Then everybody’s just like, “alright. I mean, even though I see real value there, I’m not going to take a shot.” I mean Verizon is back up… but some of these moves are dramatic and enormous and, uh, scary.
[h/t: Mediaite]