Rob Black’s Winners and Losers: Little used rule invoked amid market volatility

SAN FRANCISCO (KRON) — Financial expert Rob Black and KRON 4’s Mark Danon discuss the volatile swings on Wall Street which extended into Wednesday morning.

Black details the scarcely used Rule 48, a method intended to pre-empt panic trading at the stock market.
Wall Street invoked the rule for a third straight day on Wednesday. Black says the goal is to allow buyers to match up with sellers so there isn’t a big swoosh going down, in an effort to ensure orderly trading amid financial market turbulence.

Rob and Mark also (perhaps reluctantly) discuss more Trump news, as the Republican presidential candidate makes headlines again — this time saying he’s never going to eat Oreos again. The statement comes after the cookie maker’s decision to close a plant in Chicago and move it to Mexico.

Trump did add that he would consider eating Oreos if he could find some that were made in the U.S.

Black points out that Trump is not accurate in making his statement, noting Oreos will continue to be made in some U.S. plants, including in New Jersey, Oregon and Virginia.

And a question from a KRON 4 viewer: Is Best Buy a best buy? Black uses the term “value trap,” in answering that question, saying Best Buy has a good name, but the company has been steadily losing revenue, as Amazon takes some of its business.

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