trading error leads to sell off, page-2

And to think some of you guys got stressed by me writing in capitals yesterday, spare a thought for the guy with the "fat finger" :)

A HUMAN trading error at a "major firm" may have caused a huge plunge in the US share market overnight.
A TRADING error known as the fat finger problem at a major investment bank may have caused a huge plunge in the US stock market overnight.

The Dow Jones Industrials plunged nearly 1000 points before recovering most of its losses to close down 347 at 10,520, CNBC reported, citing several sources.

A trader reportedly entered a "b" for billion instead of an "m" for million in a trade involving Procter and Gamble.

This set off a chain of trades that led to the largest intra-day plunge in the history of the Dow Jones Industrials average, Reuters reports.

Shares in Procter and Gamble fell from $US61.56 ($69.50) a share to $US39.37 a share and then quickly bounced back again.

Management consulting powerhouse Accenture also seemed to be hit by the glitch.

It was trading around its opening price of $US41.78 when it suddenly plunged to US1c, Zdnet reports.

In the next few minutes the share recovered to end the overnight session at $US41.09.

Sources told CNBC that the firm that handled the incorrect trade was Citigroup.