Specifically for BGD, one word 'Fear' of the unknown that if a global meltdown happens how it will affect the steel industry
But looking at the total investing world I can't help but feel the market is being increasingly played with, the pin stripes are propagating the uncertainty in Europe and then cashing in on both down as well as up swings, laughing all the way and the money these guys rip out of the investment world disappears from the economy at large, never put to good productive use as it's used over and over again to kick start either a plunge or a rally
They piggy back any underlying fear, and there is plenty of that around ATM, and then they do everything they can to spread the fear further, and then the stage has been setup to naked short the financial stocks and even the switched-on fundies and traders enter the fray or their stops are hit and presto, banks and other stocks drop heaps and fear spreads
