I read this today
NEW YORK – A trader error may be to blame for the Dow Jones industrials to plunge nearly 1,000 points Thursday within half an hour.
A trader entered a “b” for billion instead of an “m” for million in a trade possibly involving Procter & Gamble, a component in the Dow, according to CNBC.
Sources told CNBC that the firm in question that handled the erroneous trade is Citigroup. The incident is still being investigated.
The Dow has managed to recover two-thirds of its losses and close down 347 at 10,520. But all the major indexes lost 3 percent in a day that recalled the market turmoil of the 2008 financial crisis.
The massive selloff amplified concerns about the spreading European debt crisis and that it could halt global economic recovery.
Fears are running high in the financial markets that the Greek government will not be able to implement austerity measures that would enable it to contain its debt problems. And, in turn, that the country's problems will hurt other economies in Europe and perhaps the U.S.
Only 173 stocks rose on the New York Stock Exchange while 3,002 fell. Volume came to an extremely heavy 2.57 billion shares.
http://www.nbcactionnews.com/news/l...ed-Dow-to-plunge/IqzojRul5EOuV7WWkFQzUA.cspxa
what if this person would have typed a t instead of a b
how far would the economy have fallen?
NEW YORK – A trader error may be to blame for the Dow Jones industrials to plunge nearly 1,000 points Thursday within half an hour.
A trader entered a “b” for billion instead of an “m” for million in a trade possibly involving Procter & Gamble, a component in the Dow, according to CNBC.
Sources told CNBC that the firm in question that handled the erroneous trade is Citigroup. The incident is still being investigated.
The Dow has managed to recover two-thirds of its losses and close down 347 at 10,520. But all the major indexes lost 3 percent in a day that recalled the market turmoil of the 2008 financial crisis.
The massive selloff amplified concerns about the spreading European debt crisis and that it could halt global economic recovery.
Fears are running high in the financial markets that the Greek government will not be able to implement austerity measures that would enable it to contain its debt problems. And, in turn, that the country's problems will hurt other economies in Europe and perhaps the U.S.
Only 173 stocks rose on the New York Stock Exchange while 3,002 fell. Volume came to an extremely heavy 2.57 billion shares.
http://www.nbcactionnews.com/news/l...ed-Dow-to-plunge/IqzojRul5EOuV7WWkFQzUA.cspxa
what if this person would have typed a t instead of a b
how far would the economy have fallen?
