From Bloomberg:
Feb. 19 (Bloomberg) -- For a few minutes, Tiger Woods was bigger than Ben S. Bernanke.
The CHART OF THE DAY shows that a day after the Federal Reserve chairman and his colleagues raised the rate charged to banks for direct loans, investors took time out from trading to watch Woods apologize for his marital infidelity and “repeated irresponsible behavior.”
New York Stock Exchange volume fell to about 1 million shares, the lowest level of the day at the time, in the minute Woods began a televised speech from Ponte Vedra Beach, Florida, headquarters of the U.S. PGA Tour. Trading shot to about 6 million when the speech ended, the highest for any period except just after exchanges opened, data compiled by Bloomberg show. Trading on all U.S. bourses declined during the press conference, falling to 456 million shares from an average of 576.8 million during the five previous 15-minute segments, Bloomberg data show.
“You couldn’t escape it,” said Michael Nasto, the senior trader at U.S. Global Investors Inc., which manages about $2.5 billion in San Antonio. “It was everywhere. You have one of the best athletes of our time involved in something like this. Every channel you were on had the press conference.”
The top player in the World Golf Rankings, the 34-year-old Woods said he would return to the sport that has made him a billionaire but had no timetable.
Woods had been on an indefinite break from golf since saying in December that he had been unfaithful to his wife. He hadn’t spoken publicly since a single-vehicle traffic accident outside his home on Nov. 27, which was followed by often lurid media reports detailing extramarital affairs.
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