View Full Version : Stock Market plummeting...

6th May 2010, 19:39
anyone watching this...

400 point drop in just hours...

6th May 2010, 20:13
A human trading error at a major firm could have caused the market sell-off, CNBC reports...

Let me guess...

Goldman Sachs...

6th May 2010, 20:19
hahahahaha.....I wonder how many of the Wall Street guys just crapped their pants?

6th May 2010, 20:19
NEW YORK - Stocks plunged Thursday as investors succumbed to fears that Greece's debt problems would halt the global economic recovery.

Now that is funny!! WHAT recovery? - Fred
In about a half-hour Thursday, the Dow Jones industrials slid almost 1,000 points before recovering to end the day off about 350 points.

The sudden drop was a painful flashback to the worst days of the 2008 financial crisis. Computer programs intensified the selling while investors watched protests in the streets of Athens on TV. Fears are running high in the financial markets that the Greek government will not be able to implement austerity measures that would enable it to contain its debt problems. And, in turn, that the country's problems will hurt other economies in Europe and even the U.S.

The New York Stock Exchange confirmed to Reuters there were no system errors during the volatile trading in the afternoon that drove the Dow and the Nasdaq down more than 9 percent.


May 6: CNBC's Brian Shactman tells msnbc there must have been something that didn't go right in the system that would allow the U.S. stock market to have such a precipitous and quick fall today.

Yesh, it must be some undefinable "something". It couldn't possibly be a completely bankrupt financial system, right? ;)


6th May 2010, 20:22
it was Citi, my guess it was Goldman was wrong...

But now there's word that a typo could have caused the drop: Per Brian Stelter, "There are rumors that somebody hit a B instead of an M" on the keyboard, billion rather than million, Bob Pisani says on CNBC." Whoops-a-daisy.