Art Cashin – Stock Plunge May Become Cascade Of Panic Selling

from King World News
Today 50-year veteran Art Cashin warned King World News that today’s 335 point plunge in the Dow may turn into a “cascade” of panic selling. Below is what Cashin, who is Director of Floor Operations at UBS ($650 billion under management), had to say in this powerful interview.
Eric King: “Art, could today’s plunge in stocks turn into something more serious?
Cashin: “Yes it can. We are heading toward a potential retest of the area around 1,925 on the S&P. We stopped in that approximate area last Thursday, and again before the most recent bounce yesterday. So if we get down there and we test it and fails, we run the risk of a kind of cascade effect (of selling) at that point.
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