May 21, 2010
By Sarah N. Lynch
A top regulator gave new details on the sudden May 6 stock plunge, saying heavy trading volume may have led a large trader's computer algorithm to execute a larger sell order than it would on other days.
Regulators have already cited heavy selling in the E-mini Standard & Poor's 500 futures contract as a possible factor in the nearly 1,000-point intraday drop in the Dow Jones Industrial Average, and said one big trader was exclusively entering sell orders for that contract during a key period just before and after the drop…
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Last Updated: August 5, 2010