So it was on Monday as the stock market began its incredible meltdown. The tally won't be official for at least another day, but several Web sites, including CNNfn Interactive and Microsoft Investor, said they expected a record day as spooked investors frantically sought information about their investments. During those stories, the Internet proves to be a medium where you can get news. And by most accounts, the visitors return. Once people experience the immediacy of the Internet, it becomes attractive.
Usage declines slightly after major news, but usually remains well above pre-event levels.
And more and more sites are realizing the importance of breaking news in boosting readership, especially among people who are at work, without access to television or radio. Plus, in the case of a market crash, they can simply use their mouse to get a personalized quote, rather than facing busy signals as they try to dial their broker or running to another location to check a ticker. There's no question it's a major source for such news. Bagdikian said covering stories like stock market crashes also might lend credence to the Internet, which often suffers from a reputation of being fast and loose with the facts. But the jury is still out on whether immediate access to intraday quotes soothes or spooks investors.