SEC: Big trade caused market plunge in May
The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) released a joint report Friday that detailed the cause of the "flash crash" on May 6 that triggered the Dow Jones Industrial Average to plummet almost 1,000 points in the course of a half hour. The culprit, the report found, was a single $4.1 billion trade carried out by a computer-based sell order.
"This report identifies what happened and reaffirms the importance of a number of the actions we have taken since that day. We now must consider what other investor-focused … Read more