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348 points. but that was still the biggest loss since february of last year. while no one is sure exactly what happened, one possibility being investigated is that a single trader accidentally placed an order to sell 16 billion shares instead of 16 million. that was enough to spark sell orders across the market creating a so-called flash crash. last night on "nightly news" cnbc's maria bartiromo explained what happened. >> fear and panic did he haefin returned to wall street today. it started in europe where people were worried about the debt crisis in greece spreading throughout europe and to...

At the worst point the dow sank nearly 1,000 point in less than 30 minutes, losing 10% of its value. later recovered to close down 348 points but that was still the biggest single day loss since february of last year. no one is sure exactly what happened. but one possibility they investigated is that a single trader accidentally placed an order to sell 16 billion shares instead of 16 million. that apparently enough to spark sell orders across the market, creating a so-called flash crash. last night on nbc's nightly news, maria bartiromo explained what might have happened. >> fear and panic def...

Is down 22 or 33%. 22 bucks or 33%, that drives the dow down 150 points. that in turn triggers what you said, bob, programmed trading for sell orders. >> yes. >> suddenly p & g on the next handful of trades comes back, helping the dow up 130, 140 points and triggers the opposite, more buying. >> which shows you the emotion. jerry was talking about the emotion out there and that's evident in what is going on today. the lessons we learned in march of last year and in 2008 was that these guys, they do the -- you know, ready, shoot, aim. they react precipitously so any event taking place. >> so so...

Them so drastically yesterday, and why we see such volatility in the market today. again, a lot of people would rather have seen this happen over the course of ten days, a couple of weeks, then such dramatic gyrations. >> and again, could you remind us as to why market experts believe there was such a significant drop? >> at 3:00 p.m. yesterday? >> yes. >> reporter: there are lots of theories out there. one theory is the algorithmic trading. another is the derivative that makes up a small part of market. but that derivative and the rip frl that may have sparked some anxiety and may have trippe...

Basically factor this into the shares and the nuclear opening just minutes ago at the top of the hour there. it's down 2.1% now, as more of the shares are traded. there was a flood of sell orders and big names talking sony, talking about nissan, honda, toyota that it was not fully impacted and now seeing the nikkei down about 4% and losses in new zealand and australia the first two markets to open on monday. they were down, but now the nikkei down 4% here and we're also seeing the dollar taking a hit. a lot of the japanese companies and export focused economy and many are based here and going ...