Submission + - Market sell-off caused by trader's fat-finger (cnbc.com)
s122604 writes: Stock market's extraordinary volatility may have been caused by fat-fingered entry.
Article is reporting that the catalyst for today's extradorinary price swing (at one point the Dow lost almost 9 percent in less than an hour) may have been because a trader entered a 'B' for billions instead of an 'M' for millions on a trade of Procter and Gamble:
"According to multiple sources, 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. (CNBC's Jim Cramer noted suspicious price movement in P&G stock on air during the height of the market selloff."
br. Unbelievable there are no safeguards to protect against this.
Article is reporting that the catalyst for today's extradorinary price swing (at one point the Dow lost almost 9 percent in less than an hour) may have been because a trader entered a 'B' for billions instead of an 'M' for millions on a trade of Procter and Gamble:
"According to multiple sources, 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. (CNBC's Jim Cramer noted suspicious price movement in P&G stock on air during the height of the market selloff."
br. Unbelievable there are no safeguards to protect against this.