Trading Error at Major Firm Blamed For Selloff

[w¡n9Nµ7 §£@¥€r 123]

A human trading error at a major firm was the root cause of Thursday's sudden, 9 percent selloff in U.S. stocks, sources told CNBC.

Multiple sources said a trader entered the letter "b"—as in "billion"—when he or she meant to type "m," for "million," shortly before 2:47 p.m. New York time.

U.S. stocks plunged suddenly, briefly by more than 9 percent, before pulling back to a near 3 percent drop, as investor worries mounted that Greece's debt problems could spread.

Sources also told CNBC that the firm in question is Citigroup.

http://www.cnbc.com/id/36999239

Edited May 6, 2010 by w¡n9Nµ7 §£@¥€r

[PhiLandShiR 18]

one typo away from disaster....

[Obama 2012 1,714]

wonder what would have happened if he hit "T" or hell, even "Q" lol...

[w¡n9Nµ7 §£@¥€r 123]

wonder what would have happened if he hit "T" or hell, even "Q" lol...

FWIW this story smells like bullѕhit to me.