I've heard this on bloomberg tv this morning, but this is some info I've found on the net.
Source : http://www.bloomberg.com/apps/news?pid=20601087&sid=awZX8UhZquSE&refer=home
The Dow average erased a 79-point drop in the U.S. yesterday spurred by concern mortgage losses are spreading after Bear Stearns Cos. suspended withdrawals from a hedge fund. The Standard & Poor's 500 Index climbed after falling below its 200- day moving average for the first time in a year.
Some traders said the late rally may have been triggered by an erroneous order to sell futures in the S&P 500 that later needed to be undone. ``We've heard the rumor that there was a fat finger trade on the S&P futures market last night,'' said Simon Carter, who helps oversee $3 billion as head of North American equities at Aegon Asset Management in Edinburgh.
National Benchmarks
Jeremy Hughes, a spokesman for the Chicago Mercantile Exchange in London, declined to comment. A person who answered a call to the Chicago office, where the futures trade, wouldn't comment or identify himself.
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I've heard this on bloomberg tv this morning, but this is some...
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Price($) | Vol. | No. |
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