It may be some time before market psychology, now completely against the dollar, begins to turn.

The mogul remains wealthy, but has become an avid student of market psychology - including his own.

In addition, the calendar adversely affected the ability of intervention to alter market psychology.

"The market psychology now is to wait for bad news rather than for any positive impetus."

Mr Bloom said market psychology had broken down across the world over recent days.

"The market psychology has now turned on technology stocks from very positive to negative," he said.

This selloff is not a change in market psychology.

Analysts noted a basic shift in market psychology concerning interest rates.

That price is not simply a matter of supply and demand, but of market psychology.

They said market psychology, not Fed policy, carried the funds rate abnormally low for a few days.