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NYSE: No Technical Problems During Plunge

Posted May 06, 2010 04:28pm EDT by Chris Nichols in Investing, Networking and Communication, Banking, Emerging Markets
Related: pg, aapl, acn

The New York Stock Exchange is saying it didn't have any technical problems with its trading system when the Dow Jones Industrial Average plunged nearly 1,000 points Thursday afternoon, according to a MarketWatch report.

While the Dow erased much of its staggering loss, the index was still sharply lower for the session as traders worried about the potential for Greece's fiscal crisis to spread. The Dow ended down more than 300 points.

Meanwhile, reporters all over Wall Street were searching for answers as to what happened in the market, which lost hundreds of points in a matter of minutes -- and then bolted back up almost as fast. CNBC said its sources were indicating that a "trading error" at a major firm had played a role.

Indeed, several stocks, including Procter & Gamble (NYSE: PG - News), Accenture (NYSE: ACN - News) and Apple (NYSE: AAPL - News) were showing steep and difficult-to-explain tumbles that quickly eased when the worst of the panic subsided.

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