There Are Losses, and Then There Is Loss

Deadline day, which means (1) I probably should be working on that, not this post and (2) I have cable news on in the background, on mute. All morning, CNN has been airing a picture-in-picture inset of the NYSE big board, focused on the numbers for the Dow Jones Industrial average (down about 250 points as I write). At the same time, it been running a “BREAKING NEWS” banner covering the deaths of several hundred in the earthquake in Peru.

Maybe this is a nitpick, but the juxtaposition seems a little crass, or at least unnecessary. Sure, the market is news, just as the Peru disaster is, but CNN–like every other news channel–has a bottom-of-the-screen graphic that already gives you the stock numbers. The picture-in-picture doesn’t add information. It just sends a visual message–”HOLY CRAP, THE MARKET IS TANKING!”–that seems all the more hyperbolic right next to the grimmer numbers, about losses that can’t be recovered by a turnaround in trading.

[Update: I left my desk for a while, and now MSNBC has added a big Watching the Dow graphic in its lower-right corner. Nice to know I have influence.]

JKC

While I do not necessarily hold with the motto “If it bleeds it leads”, what CNN is doing is indeed very strange! Hey, CNN is another corporate lackey, and the money folks want to know where their money is going (straight down the tank)!!
Karma

I think they are attempting to reinforce their belief that the end is nigh.
saybo

Nothing like encouraging a panic. It wouldn’t surprise me if they are telling their viewers that its time to sell. Just think how much bigger the story could get (& how much bigger ad revenue could get) if they just got more people to call their brokers…