Plunge in US equities remains a mystery
By Michael Mackenzie and Henny Sender in New York
Published: May 7 2010 18:49 | Last updated: May 7 2010 20:01
The day after $1,000bn was briefly wiped off the market value of US equities, traders were still trying to work out what caused share prices to plunge and then rebound so dramatically in a matter of minutes.
The conventional wisdom held that an incorrectly typed sell order – one that confused “billions” for “millions”, for example – was the likely culprit.
Friday, May 7, 2010
US - Plunge in US equities remains a mystery