Today was a rollercoaster of a day on Wall St. as a massive sell-off sent the Dow plummeting 1,000 points before rebounding a bit. What caused the sudden dip? It might have been one trader's tiny, but huge, typo.
CNBC is reporting that, according to several sources, a trader at Citigroup may have entered a "b" for billion on his computer instead of an "m" for million while selling shares of Procter & Gamble. Thus the massive selling frenzy was kicked off and everyone shrieked and tore at their hair and started selling too, until they all stopped, took a breath, rallied, and then the market gained ground again. It added an unneeded extra amount of stress to an already nerve-racking day, as Greece's broke-assness continues to threaten the global market.
So whoever that poor unfortunate trader is, if there even is such a person, we suggest they maybe take a nice long vacation. Santorini is supposed to be lovely, and cheap, these days.