Dr. Fat Finger

Rumors are being spread that some trader entered the wrong dollar amount, triggering an avalanche of computer-driven algorithm sell orders. Liquidity dried up, and high-frequency trading caused the market meltdown. Bids disappeared, providing no support for plummeting prices.

Personally, I don't buy the "fat finger" theory. Markets are skittish, and any exogenous event can trigger a sell-off, whether it's Greek sovereign debt, or the collapse of the Euro.

SkyNet Defense System now activated!



http://www.youtube.com/watch?v=35Io50Dw2tY