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In one of the most gut-wrenching hours in Wall Street history, the Dow plunged almost 1,000 points Thursday, before recovering some, as on a technical glitch in the trading of Procter & Gamble stock and fears about the European debt crisis spreading.
Heres the link: http://money.cnn.com/2010/05/06/markets/markets_newyork/index.htm?hpt=T1&iref=BN1
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ReplyDeleteYea that's what I heard as well. That does seem pretty ridiculous that a mis-typing can cause record breaking chaos. Maybe a conformation screen should pop up saying SELL BILLIONS? YES OR NO. At least something to prevent something that stupid from causing a shit storm like that one.
ReplyDeletewell That guy is fired...that just shows you how quickly people react on wall street and the volatility present even in the people themselves. It is funny to me how much a price can change just based on small expectations. A person is rational but sometimes people become irrational and react too radically. Scary
ReplyDeleteThats a pretty big mistake and like BRYAN said its amazing to see how quickly wall street reacts. One typing mistake contributing to a 1,000 point drop in the dow pretty scary.
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