Off-Topic: Computer Error
(Claiborne Reservoir Specific)
0 messages
Updated
Lakes Online Forum
83,627 messages
Updated 5/20/2024 12:16:20 AM
Lakes Online Forum
5,193 messages
Updated 4/3/2024 3:47:36 AM
(Claiborne Reservoir Specific)
0 messages
Updated
Lakes Online Forum
4,169 messages
Updated 4/15/2024 11:05:05 PM
Lakes Online Forum
4,260 messages
Updated 3/24/2024 9:24:45 AM
Lakes Online Forum
2,976 messages
Updated 3/20/2024 11:53:43 PM
Lakes Online Forum
98 messages
Updated 4/15/2024 1:00:58 AM
|
|
|
|
Name:
|
lotowner
- 
|
|
Subject:
|
Computer Error
|
|
Date:
|
5/6/2010 8:37:52 PM
|
|
If today's catastrophe was caused by a human error, what else is waiting out there that could be damaging. The middle class continues to be beat up. who is in charge? Greece today, USA tomorrow!
NEW YORK (AP) -- A computerized selloff possibly caused by a simple typographical error triggered one of the most turbulent days in Wall Street history Thursday and sent the Dow Jones industrials to a loss of almost 1,000 points, nearly a tenth of their value, in less than half an hour. It was the biggest drop ever during a trading day.
The Dow recovered two-thirds of the loss before the closing bell, but that was still the biggest point loss since February of last year. The lightning-fast plummet temporarily knocked normally stable stocks such as Procter & Gamble to a tiny fraction of their former value and sent chills down investors' spines.
"Today ... caused me to fall out of my chair at one point. It felt like we lost control," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.
No one was sure what happened, other than automated orders were activated by erroneous trades. One possibility being investigated was that a trader accidentally placed an order to sell $16 billion, instead of $16 million, worth of futures, and that was enough to trigger sell orders across the market.
|
|
Reply
Back
Search
Off-Topic Forum
»
Alabama Lakes
»
Claiborne Reservoir
Login
|
Home
