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$1 Billion Says Market Will Drop 75% in 4 Weeks
In the days before the 9/11 attacks, put options were up on American Airlines and other companies who were going to lose money from the attacks. Put options are a bet that a stock will drop, and the one betting will lose money if they are wrong, but make money if they are right.
An unknown entity has gambled $1 billion that the Dow Jones will hit 2,800 within 4 weeks, reports Financial News US.