Typo may have caused market to crash

Discussion in 'Current Events' started by Chris, May 6, 2010.

  1. Chris
    Offline

    Chris Gold Member

    Joined:
    May 30, 2008
    Messages:
    23,154
    Thanks Received:
    1,958
    Trophy Points:
    205
    Location:
    Virginia
    Ratings:
    +2,089
    No one was sure what happened, other than automated orders were activated by erroneous trades. One possibilility being investigated was that a trader accidentally placed an order to sell $16 billion, instead of $16 million, worth of futures, and that was enough to trigger sell orders across the market.

    http://news.yahoo.com/s/ap/us_wall_street
     
    Last edited: May 6, 2010
  2. Shorebreak
    Offline

    Shorebreak Active Member

    Joined:
    Sep 25, 2009
    Messages:
    395
    Thanks Received:
    102
    Trophy Points:
    28
    Ratings:
    +102
    This was a shot across the bow.

    "If you audit us (The Fed) we will collapse you."

    In fact, Bernanke said that very thing today, in not so many words.
     
  3. Chris
    Offline

    Chris Gold Member

    Joined:
    May 30, 2008
    Messages:
    23,154
    Thanks Received:
    1,958
    Trophy Points:
    205
    Location:
    Virginia
    Ratings:
    +2,089
    I doubt it.

    More like a chance to make some money on index funds.
     

Share This Page