5.06.2010

A "B" instead of an "M"

Stock Selloff May Have Been Triggered by a Trader Error

Excerpt:

In one of the most dizzying half-hours in stock market history, the Dow plunged nearly 1,000 points before paring those losses—all apparently due to a trader error.

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.)

Sources tell CNBC the erroneous trade may have been made at Citigroup.


Comment: Interesting

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