The major Stock trackers in the United States had an interesting day, a blip of seismic proportions as the Dow Jones tumbled 1,000 points within an hour and managed to regain 2/3rds those losses by the end of the session.
The focus was squarely on Greece, as worries surrounding the bailout, and the next European Countries who are to be "victims" grew as Traders watched the protests taking place in Athens. Computer trading limits did the rest of the damage as stop-loss after stop-loss was blown through. In a period of major regulatory, financial and market uncertainty today became one of the most volatile and memorable.
Update: CNBC is now reporting that a trader error involving an order on Procter & Gamble (PG) could be responsible for the drastic plunge in the market. Reports indicate an order was marked mistakenly as billion instead of million.
06 May, 2010
Well that's a Chart! [Update]
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