Photo credit: @julesdwit.
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Felix Salmon, economic reporter for Reuters, discusses the Dow's wild day yesterday, the ongoing crisis in Greece and Europe, and the British elections.
I'm thinking of the sci-fi film "Colossus: The Forbin Project" right now.
If just one trade caused this kind of volatility, maybe we should consider going back to pen and paper...
Didn't there used to be some kind of trigger that shut the market down in a panic? And if so, why wasn't it triggered yesterday?
The fat fing/ trader error is the most ridiculous explanation. Even if a B was pressed instead of an M, the person would have needed to press a T to get the drop that ensued to happen. Liquidity dried up almost in an instant. There were no bids. The market makers appeared to not be doing their jobs.
Could something like yesterday's market drop be caused by cyber terrorism?
Mes doigts sont trop gross? Ca y'est
Assuming that the "fat finger" explanation is true, could the guest please explain what kind of keyboard has the letters "B" and "M" next to one another?
Moreover, is there any confirmation required when a broker enters the amount to be bought/sold before the transaction is executed?
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Brian Lehrer leads the conversation about what matters most now in local and national politics, our own communities and our lives.
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