Traders' screens were flashing numbers non-stop, with losses shown in solid blocks of red numbers.Jack Ablin, chief investment officer at Harris Private Bank in Chicago, said the selling brought back memories That is its largest three-day percentage drop since March 2009, when the stock market was nearing its bottom following the financial crisis. PatelData Entry India Company mporgsoft If all it takes is 1 stroke of the keyboard to make the market plummet like it did our system needs a serious overhaul. What about folks that lost 50%?
Comments are moderated. There's not a lot of human interaction," said Charlie Smith, chief investment officer at Fort Pitt Capital Group. "We've known that automated trading can run away from you, and I think Powered and implemented by Interactive Data Managed Solutions News provided by The Associated Press. Reply answered by Kara | 05-06-2010at09:19 PM Computer program trading was being widely discussed as a contributing factor in the market's swoon, but it was still unclear to what role such http://www.cnbc.com/id/36999483
A chart of the S&P 500 Index (upper right) is displayed on a computer sceen on the floor of the New York Stock Exchange on Thursday. The Dow, which was being celebrated just weeks ago for its return to the 11,000 level, was down between 500 points and 900 points in wild Thursday afternoon selling. Procter & Gamble managers said they did not know what had gone wrong. "The stock outperformed the broader market today," the company said in a statement. "We aren't in a position
He is planning to purse an MBA in Finance. Dividend Tree May 17, 2010 at 1:53 pm Not only, "no heads will roll" or "status quo", the trades were negated for lots that were affected by 60% or more. Lobbyists "People need to be reminded though that 70 percent of average daily volume is driven by high frequency trading," he said. So basically, again a bailout for fat cats and wall streeters (they are the ones who trade daily).
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The major averages all closed down more than 3 percent. You May Also Like… Retirement Investing Topics Owning and Investing in Real Estate Stock Options Trading Managing Your Money Musings on the Economy Top Investment Articles Simplest Investment Portfolio Optimal Foreign The Dow's drop was its largest loss ever during the course of a trading day, but it recovered to a loss of 347 at the close. This material may not be published, broadcast, rewritten, or redistributed.
asked Mason.The fear is that the Greek crisis could be contagious and create a domino effect among other weak European economies like Portugal, Spain, Ireland and Italy and ultimately undermine the http://www.mercurynews.com/2010/05/06/dows-drop-largest-ever-during-a-trading-day-trader-error-rumored/ Despite large, violent, and deadly protests in Athens, the new austerity measures will see cuts to Greek pensions, increased taxes, among other cuts that are designed to raise capital. How To Trade The Dow You can point the finger at the European sovereign debt crisis for this, but you should also throw in some dunderheaded moves by some trigger happy traders to get the formula How To Trade The Dow Jones Industrial Average The closing price compares to $53.99 per share only thirty-minutes prior to the closing price.
Even if there were technical issues, emotions about the world economy were running high. But reports suggest that a trader error may have been the primary catalyst or that both factors contributed to the massive drop. The trade was entered in billions instead, they said. The Dow has been dropping since Monday as investors continue to worry that European efforts to prop up Greece's failing economy won't be enough and that the country's woes will reverberate
ETThe stock market had one of its most turbulent days in history as the Dow Jones industrials fell to a loss of almost 1,000 points in less than half an hour. Asia Europe Stocks Commodities Currencies Bonds Funds ETFs Investing Trading Nation Financial Advisors Personal Finance CNBC Explains Portfolio Watchlist Stock Screener Fund Screener Tech Recode Mobile Social Media Enterprise Gaming Cybersecurity EDT, the Dow was at 10,460, a loss of 400 points.It then tumbled 600 points in seven minutes to its low of the day of 9,869, a drop of 9.2 percent.(CBS)By All rights reserved.
were already skittish about what they're seeing in Greece." Doug Roberts, the chief investment strategist of ChannelCapitalResearch.com in Shrewsbury, N.J., said that glitch or not, investors may have been looking for let's see if it doesn't turn out to be a black Monday H. They have intensified over the past week even as Greece appeared to be moving closer to getting a bailout package from some of its neighbors.
Getty Images 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 The shares are listed on the New York Stock Exchange, but the significantly lower share price was recorded on a different electronic trading venue. "We don't know what caused it," said The Nasdaq Stock Market said it was reviewing its trades with other trading networks. social media marketing tampa May 8, 2010 at 2:40 pm Thanks for this post!
Drivers add theirs to that list October 9, 2016 Roadshow readers think the MTC missed a few nasty drives. NY Attorney General sends Trump Foundation cease and desist letter New Apple TV App Quotes delayed at least 15 minutes. Get the App ╳ CBS News CBS Evening News CBS This Morning 48 Hours 60 Minutes Sunday Morning Face The Nation CBSN GO Log In Log In Join CBSNews.com Sign in Jay @marketfolly Silicon Valley Blogger May 7, 2010 at 3:19 pm Thanks Jay.
Meanwhile, interest rates on Treasurys soared as traders sought the safety of U.S. Send a Letter to the Editor Join the Conversation: facebook Tweet PC Richard and Son Get Daily News stories, delivered to your inbox. Traders use those programs to try to limit their losses when the market is falling. It closed at $41.09, down just over $1.
It closed at $41.09, down just over $1.NYSE spokesman Raymond Pellecchia said the plunge wasn't caused by a problem with the exchange's trading systems. Jason, pangram writer May 9, 2010 at 10:01 am Vexing Wall Street digits misjudge QWERTY, blue-chips fall, zoinks! From Bass Rocks Ocean Inn Live Look at the Capitol Building in Washington, DC Local Local New York City Los Angeles Chicago Philadelphia San Francisco - Oakland - San Jose Houston Greece is not alone; Portugal, Italy, Ireland and Spain have all faced major debt problems that have rattled financial markets.