Trading error blamed for market plunge: CNBC

NEW YORK Thu May 6, 2010 6:40pm EDT

NEW YORK (Reuters) - A trading error at a major firm was to blame for the day's market plunge, CNBC reported on Thursday.

Separately, Nasdaq said it was working with other major markets to review the market activity that occurred between 2:00 p.m. and 3:00 p.m.

The exchange said in an e-mail it would advise when more information was known.

(Reporting by Wall Street team)

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Comments (4)
Hepzibah wrote:
Oh yeah, fat finger, haha. What a good thing we have the Obama Admin. trying to get this Financial Reform Bill passed?!…..’So this will never happen again….hummm?

May 06, 2010 4:57pm EDT  --  Report as abuse
NitinVerma wrote:
I think this was Exiting in profit.. as the Markets are going to fall…

May 06, 2010 5:20pm EDT  --  Report as abuse
barth wrote:
This and other articles on this topic use the term ‘erroneous trade’ without definition. Such use lends a degree of reality to something that may have none.

May 06, 2010 7:29pm EDT  --  Report as abuse
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