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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 morning. they are trying to position it over a ruptured well that's been spewing thousands of gallo...

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. there's an underlying fear. >> sean: we'll get to that in a second. you agree? >> i do automatic trading is like -- a...

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 subjecting conserve will win a large number of seats in the uk but not enough to win a majority. that'...

Let's start with that trading error today, gerry. what happened? >> here is what we think might have happened. we don't know yet. as you said a fat fingered trader keyed in the wrong strokes. made a trade he didn't want to make far too big. the way the wall street works they have computerized trading. it's automatic. it happens automatically. everybody climbs on board and starts selling, too. that's why you saw the result you did. >> jon: why is is wall street so worried over what's happening in greece? it's a tiny country. >> tiny country but important. you know why? because it's the european...

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 what's going on in europe. and there's what happened between 2:30 and 2:45. where apparently there was a major trading error by a firm. someone went to go sell $15 million worth of the equival...