Also in this playlist...
This transcript is automatically generated
On top of the breaking news this morning it's -- stock futures are bouncing back after a crazy day yesterday on Wall Street -- -- now saying it's simple typing error.
May be behind the worst stock market drop -- for 998.
Points late in the session for the Dow Jones Industrial Average which is the biggest intra day point drop ever.
Now if you see here recovered most of that ground still closed down 347 herself may have all started with Procter & Gamble.
The blame -- right now seems to be pointing at trader error.
We honestly don't know what happened there's some talk maybe simply -- billion instead of million whatever the case may be PNG plummeted.
Because of that one trade the Dow lost -- 150 plus points and when it -- that much the computer programs come -- come in decide to trade on big drops they were triggered -- The selling led to more selling and you know the Dow was down nearly a thousand points at one point the session but -- as quickly it bounced back.
More than ten billion shares traded in the New York Stock Exchange yesterday second busiest volume.
That the -- ever seen in one day -- meanwhile regulators at the exchanges are trying to get to the bottom of but it would -- -- this market chaos the SEC in the commodities futures trading commission.
They're working with the exchanges to review what they're calling unusual trading activity.
Now congress also wants to know what happened Paul Kanjorski the chairman of the subcommittee on capital markets calling for an emergency hearing on Tuesday.
And the exchange is also looking at the trading glitches that -- caused the problem -- all canceling trades from about 2:40 eastern.
Up -- top of the 3 o'clock hour -- which stocks traded 60%.
Less than the previous trade those traits -- being wiped out now -- censure was another one.
Its stock was trading around forty bucks a share all of a sudden it plummeted to four cents all happened.
To happen with a lot of other stocks as well to the big bounce back right after that's it's clearly something strange to place now let's look at the markets this morning as -- said.
-- the US a bit of about Specter of the European markets hung parliament.
Well more on the elections in Europe throughout the morning over there but -- down again -- here in the US are higher -- 76 on the Dallas Imus in the morning continues right here.
On the fox business network of the way.
Filter by section