Huge Drop In Stock Market Due To Fat-Finger?
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The unprecedented drop in the stock market may have been caused by a trader who fat-fingered an order according to some sources. Other sources are blaming a computer error although most in the know are denying that claim.
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. All the major indexes lost more than 3 percent. There were reports that the sudden drop was caused by a trader who mistyped an order to sell a large block of stock. The drop in that stock’s price was enough to trigger “sell” orders across the market.
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