Page 2 - Trading Error News Today

Street. hearts raced and traders looked on in horror as the dow took a running jump off a cliff, dropping nearly 1,000 points in a matter of minutes. was it the financial crisis in grooes or a trading error? >> the times square bombing suspect seen on video buying fireworks in pennsylvania. susan candiotti following all of the latest developments on this terror case for us. 15 miles off the coast of louisiana, a four-story 100-ton concrete containment dome is on its way to the ocean floor this...

Is the next stage of the global financial crisis? joining me charles gasparino and jherri willis this is only part of it. proctor gamble confirmed the trading error. explain what happened. >> at around 2:00 the market was down 250 points. then there was this trading error. when trading records occur sometimes other programs kick in and markets plunge because it is electronic. remember, the markets were down big time. take trading records out the market is down 6% in three days. theres an underly...

Crisis sparked a massive sell-off thursday. analysts are blaming a trading error for a dizzying drop. the dow only took about 90 seconds to correct but finished nearly 350 points in the red. a repair crew is in the process of lowering a containment over the leak in the oil well. it could take two days to set. lawrence taylor has been arrested after allegedly patronizing a 16-year-old prostitute. and lettuce being recalled from fresh way foods, being blamed for an ee coli outbreak. and su...

Lets start with that trading error today, gerry. what happened? >> here is what we think might have happened. we dont know yet. as you said a fat fingered trader keyed in the wrong strokes. made a trade he didnt want to make far too big. the way the wall street works they have computerized trading. its automatic. it happens automatically. everybody climbs on board and starts selling, too. thats why you saw the result you did. >> jon: why is is wall street so worried over whats happening in greec...

On wall street. jim cramer is host of "mad money" on cnbc. it was very scary today, jim. very scary, especially us who have 401(k)s in the market. it went down 1,000 points and something happened. it came back. big comeback, almost back to sandy, what happened? >> i want to divide it into two parts. there was the real market that closed down 350 today, it was a horrible market. mostly because of fears of whats going on in europe. and theres what happened between 2:30 and 2:45. where apparently t...

Im thomas roberts. protesters took to the streets again today after lawmakers approved drastic austerity measures needed to secure a bailout and wall street took massive drop but a trading error may have caused it. it took only 90 seconds to correct but finished 350 points in the red. and a senate democratic effort to weaken financial reforms efforts. and the oil is coming on-shore on the chandeleur islands. floodwaters from the swollen kumer land river continue to recede. and lawrence tay...

In our control booth weve been watching the reporting on cnbc and apparently we are just getting word that a trading error at a major firm is what is blamed for the market plunge. there is a developing story. its all we have so far. if you look at the graphic we have up on the screen right now you can see evidence of what that plunge was like. it was precipitous right there. and apparently again according to cnbc early word is that a trading error at a major firm is what is to blame for that mar...

Called to testify before congress. mr. dimon called the trading error an embarrassment and apologized for the losses. >> this portfolio morphed into something that rather than protect the firm, created new and potentially larger risks. as a result, weve let a lot of people down and we are very sorry for it. we will not make light of these losses, but they should be put into perspective. we will lose some of our shareholders money and for that we feel terrible, but no client, customer or taxpayer...

Latest updates on this topic.

Weve been talking with greece with you for sometime. what role did the downfall and the chaos were seeing in greece have to do with this? >> that was the underlying cause of the big drop on wall street yesterday. superficially, there was this so-called trading error. that spiked the stock market way down all of a sudden, within the space of 10 minutes, it was down 995 points. thats the superficial reason but underlying everything, europe is falling to pieces. there is a crisis with european fina...