The Dow Industrials set a new record for the biggest intraday market plunge with a 1,500 point drop on Monday. The stock market lost $4 trillion over 6 days and the Dow wiped out all of its gains for the year.
The so-called FANG tech stocks (Amazon, Google, Netflix and Apple) were among the hardest hit, losing over $90 billion in just a few hours on Monday.
So what triggered the big stock market sell off?
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In an effort to stay one step ahead of organized, well-financed counterfeiters, the Federal Reserve is issuing crisp new $100 bills on Tuesday.
The new $100 bill, which was announced on April 21, 2010, will be released despite the government shutdown (nothing but an act of God stops the U.S. from printing money).
The new C-notes feature updated anti-counterfeit measures including raised printing, microprinting, and color shifting images. Benjamin Franklin's image is off-center and there are numerous references to the Constitution printed on the bills.
An earlier release date was scrapped when a printing error sent 30 million notes to the incinerator.
The old $100 bills will be gradually removed from circulation by banks and the Federal Reserve.