Yesterday Brought to You By the Irrational Herd

What a day it was at the New York Stock Exchange. (By Stephen Chernin -- Getty Images)

Discussion Policy

Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.

By Steven Pearlstein

Wednesday, February 28, 2007

Yesterday at 3 p.m., these were the top headlines running on Bloomberg's news service:

· Stocks in U.S. Drop Most Since 2003.

· Treasury Yields Decline to Lowest Since December.

· Orders for Durable Goods in U.S. Tumble 7.8 Percent.

· Freddie Mac Will Tighten Standards on Its Purchases of Subprime Mortgages.

· Yen Advances as Investors Unwind Bets on a Drop in the Japanese Currency.

CONTINUED 1 >