Press Releases. Citigroup TRADING ERROR, Wrong Price For P&G Stock Said To Have Fueled Stock Plunge. The lightning-fast drop in Procter & Gamble's stock price this afternoon may push the markets to unwind some trades, the CEO of the New York Stock Exchange told CNBC today.
Duncan Neiderauer spoke to CNBC's Maria Bartiromo and said that the "$39 trade will not stand. " (P&G's stock fell from roughly $60 to $39 in the space of a minute, CNBC reports.) How a Trading Algorithm Went Awry. How a Trading Algorithm Went Awry. 'Flash crash' report not enough to bring retail back. NEW YORK Sat Oct 2, 2010 5:14am IST NEW YORK (Reuters) - Frightened retail investors shunning the stock market are unlikely to find much comfort in Friday's report on the May 6 "flash crash" that sent markets tumbling in a matter of minutes.
The report lays out how the crash was kicked into gear by a large trade made by Waddell & Reed Financial Inc, but the existence of the report itself will not alleviate concerns of small investors that they are at a disadvantage to Wall Street's large institutions.