Thursday, May 6, 2010
OOPS!! FAT FINGER
It now appears that the stock trading panic this afternoon was caused by, as one trader called it, a 'fat finger'. The trade was 16 million shares somehow recorded as 16 billion shares!! The decline was 1000 points - to be accurate 998 points - before the decline stopped and began a climb out of the hole closing at 348 loss.
In truth that is somewhat hard to believe but there it is an explanation by the Stock Exchange one has to live with. Let us see what tomorrow's trading brings, which may be indicative of the truthfulness of the NYSE Report.
at May 06, 2010