Friday, May 7, 2010

Computer glitch may have caused May 6th Stock Plunge

In any case it imprinted a huge dip on almost every US stock.

Almost 1.3 billion shares traded on U.S. markets in a 10- minute span starting at 2:40 p.m., six times the average, sending prices lower on platforms from New York to Kansas City. Nasdaq OMX Group Inc. said it canceled transactions in 286 stocks where swings grew too wide. Federal agencies began inquiries after more than $700 billion in value was erased in an eight-minute span.

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howarddevelopment said...

Hey .. I think it's Pinocchio. Look at the LONG noses on the stock charts.

howarddevelopment said...
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