Basically, people like to watch exciting things and the markets tanking is exciting. Now that things appear to be stabilizing, CNBC is not as exciting to watch for many...
"Just as most people don't buy Playboy to read the articles, most people don't watch CNBC to listen to analysis. In fact, in many places—corporate offices, health clubs, bars, trading floors—the volume is generally muted. People keep CNBC on to see what stocks and bonds are doing and to see whether there's any news—especially to see whether there's any bad news. Standard business news such as quarterly earnings reports and Federal Reserve testimony isn't particularly exciting. CNBC gets its best ratings when the markets are tanking."
Why You've Stopped Watching CNBC
by Daniel Gross
http://www.slate.com/id/2224257/
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