Of Fat Fingers and Debt Crises

Friday, May 07, 2010

Felix Salmon, economic reporter for Reuters, discusses the Dow's wild day yesterday, the ongoing crisis in Greece and Europe, and the British elections.


Felix Salmon

Comments [7]

mozo from fl

I'm thinking of the sci-fi film "Colossus: The Forbin Project" right now.

May. 07 2010 11:37 AM

If just one trade caused this kind of volatility, maybe we should consider going back to pen and paper...

May. 07 2010 11:36 AM
Jack from Brooklyn Heights

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?

May. 07 2010 11:31 AM
Lawrence from Harlem

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.

May. 07 2010 11:12 AM

Could something like yesterday's market drop be caused by cyber terrorism?

May. 07 2010 11:10 AM
Los dedos from Montreal

Mes doigts sont trop gross? Ca y'est

May. 07 2010 11:07 AM
Jon from NYC

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?

May. 07 2010 10:51 AM

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