Manage your money: Markets dramatic drop

(FOX25/MyFoxBoston.com) - Never before has the stock market seen this big a loss in the Dow industrials in a single day. The blue chips dropped almost 1,000 points in less than half an hour Thursday, on fears that the debt problems in Greece could stop the global economic recovery.

The index regained two-thirds of what it lost by day's end, finishing 347 points lower on the day. All of the major indexes lost more than 3 percent.

There are reports that the sudden drop was caused by a trader who mistyped an order to sell a large block of stock.

The drop in that stock's price was enough to trigger "sell" orders across the market.

The selloff came as traders watched protests in the streets of Athens on TV. The protesters were raging against austerity measures passed by the Greek parliament -- a necessary step in order to receive international loans.

Investors are worried that other European countries will also run into trouble, and that the damage could spread to the U.S.

Watch Sara Underwood's interview with Barry Armstrong, financial planner with Securities America Advisors and host of Money Matters on 830 WCRN, for more.