Market Turmoil On Wall Street Spikes Web TrafficMarket Turmoil On Wall Street Spikes Web Traffic

RTC solution, as in Resolution Trust Corp., was the third-hottest search listed by Google on Thursday after the market began to rally back.

K.C. Jones, Contributor

September 18, 2008

2 Min Read
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Searches for Resolution Trust Corp. -- or RTC -- topped the list of Google search trends Thursday, as word spread that the federal government could create a new entity, similar to an RTC, to take on the debt that has weakened major banks.

The news encouraged investors, who helped Wall Street rally by more than 400 points, and "rtc solution" was the third-hottest search listed by Google on Thursday. Between 1989 and mid-1995, the government-assisted RTC helped curb the damage from failed savings and loans.

Search patterns fluctuated with market turmoil, according to several sources.

Searches for "STT," the ticker symbol for State Street Corp., ranked 15th, for example, as shares fell to a 52-week low because of the bank's exposure to AIG, which needed an unprecedented government bailout to survive this week.

Beet.TV said that The Wall Street Journal's WSJ.com reported record traffic, with 2 million visitors Monday.

DuplicatePoker.com reported that more Americans turned to online gambling as stress mounted over Wall Street's fluctuations. Although Wall Street offered plenty of risk and excitement, Daniel Flamberg, DuplicatePoker's chief marketing officer, indicated that people visited the site not for excitement, but a sense of safety. He said they turned to poker because "the rules are clear, the action is transparent, and the outcome can be affected by our own skills."

The site reported a 25% increase in traffic and game play since rumors that Lehman Brothers could collapse spread to the general public Saturday. Duration of play also rose 16%, to 2.45 hours per player. Total sums wagered and won rose 20.6%.

"At a time when we are all worried about our money and generally feel helpless, it looks like Americans are seeking solace in a game they know and love," Flamberg said.

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