When the stock market goes berserk

Fox Business Network anchor Liz Claman writes for Town & Country magazine about what her day was like Monday covering the stock market, noting she has never used the word “crash” to describe the markets.

Claman writes, “At 6am ET this morning I logged on and saw China’s stock market had been crushed to the tune of -8.5%. ‘We’re sending you down to the New York Stock Exchange to do the show live,’ my executive producer Brad Hirst texted me a half hour later.

“I usually do my ‘Countdown to the Closing Bell’ 3pET show at Fox Business’ midtown studios but when there’s major breaking news—the financial crisis, the Lehman Bros. failure, the recent technical NYSE glitch that cause mayhem in the markets— I head to the NYSE.

“After rushing through hair and makeup at Fox Business’ midtown studios, I literally ran up to the Fox News set to appear on ‘America’s Newsroom’ with Martha Maccallum and Leland Vitter to discuss the market drop. China is the world’s second-largest economy, and wealth that’s recently been created in that emerging country has been epic. Both US and European companies have outright depended on the new rich of China to propel sales and stock prices. From Gucci to Pucci to Prada to designer real estate, the Chinese have opened their wallets and turned a blind eye. Today was sure to change that. As I walked off that set, I was summoned downstairs to my FBN colleague Stuart Varney‘s set to join the conversation. By then the markets had opened to a stomach-churning 1,089 point plunge on the Dow.”

Read more here.