I was reading an AP report that talked about the possibility that a Trader working for CitiGroup erroneously entered a futures trade of 16 Billion instead of 16 Million – a ‘small’ difference. And this may have led to an automated sell of.
The Nasdaq at one point may have also listed erroneous stock prices on Proctor and Gamble (PG) and possibly other stocks as well (unconfirmed at this point – but speculation abounds. NASDAQ did also ‘cancel’ trades made during a certain period of time. Now THAT is a bit telling, isn’t it?
Assuming this whole thing was a false sell off – I feel sorry for the people who got hurt by this!
You have to admit, if the market falls by 1,000 points and then rebounds immediate by 650 points – ‘Something’ does not seem right!
Comment below if you agree or disagree or have something to add! Just say something to let me know you are ALIVE!