Tiger Rules the World

Bloomberg News reports that stock trading on the New York exchange fell to its lowest level during Tiger Wood’s press conference concerning his extramarital affairs. “For a few minutes, Tiger Woods was bigger than Ben S. Bernanke. The Chart of the Day shows that a day after the Federal Reserve chairman and his colleagues raised the rate charged to banks for direct loans, investors took time out from trading to watch Woods apologize for his marital infidelity and ‘repeated irresponsible behavior.’ New York Stock Exchange volume fell to about 1 million shares, the lowest level of the day at the time, in the minute Woods began a televised speech from Ponte Vedra Beach, Florida, headquarters of the U.S. PGA Tour. Trading shot to about 6 million when the speech ended, the highest for any period except just after exchanges opened, data compiled by Bloomberg show. Trading on all U.S. bourses declined during the press conference, falling to 456 million shares from an average of 576.8 million during the five previous 15-minute segments, Bloomberg data show.”