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DylanRatigan
RT @zerohedge: that was one sweeping HFT wave forcing out all stops. HFT is not curbed our markets a joke. billions lostIgnored
Written by Jamie Coleman
May 6, 2010 at 19:14 GMT
Traders are searching for clues as to the source of the panic that has consumed the market in the last hour. Some speculate it was a mis-laid order distorting the major averages, tripping off massive index futures sales. Procter and Gable is the focus of the talk, falling from something like $62 to $47 in a flash…that would have thrown all the averages into a tailspin…
We’re recouping some of that lost ground but there will be billions in realized losses from those caught in the crossfire.
EUR/USD is back up to 1.2610, S&Ps are down 42 points or 3.6%…we were down over 8% at the worst.
http://www.forexlive.com/104798/all/fat-finger-f-up