Art Cashin Recalls NYSE Trading After JFK Assassination
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On the 50th anniversary of JFK's assassination, trader Art Cashin recalls that day on the floor of the NYSE in a CNBC interview. He was 21 years old at the time.
Cashin said the sell-off in stocks commenced ever before official news of the President's death hit the tape. "... there's a brokerage firm selling madly all across the floor, and when we asked them, they said it had something to do with the president," Cashin recalls his floor broker telling him. "And I puzzled about that," he said.
Later Cashin found out that the branch manger in Dallas indicated that as his staff waited to view the President's motorcade passing by, the parade had been re-routed and sirens heard 18 blocks away. There were no bullish reasons for the re-route only bearish ones, Cashin said.
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Cashin said the sell-off in stocks commenced ever before official news of the President's death hit the tape. "... there's a brokerage firm selling madly all across the floor, and when we asked them, they said it had something to do with the president," Cashin recalls his floor broker telling him. "And I puzzled about that," he said.
Later Cashin found out that the branch manger in Dallas indicated that as his staff waited to view the President's motorcade passing by, the parade had been re-routed and sirens heard 18 blocks away. There were no bullish reasons for the re-route only bearish ones, Cashin said.
Video:
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