President Barack Obama has said that regulators would look for ways to prevent a repeat of Thursday’s mysterious stock market meltdown, adding to expectations the US government will make new regulations to curb runaway computer trading.
More than a day after a nearly 1,000-point drop in the Dow, the government had not publicly pinpointed the reasons. Growing concern about the Greek debt crisis, exacerbated by a spike in the Japanese yen, may have caused computerized trading programs to dump US stocks. Initial theories had focused on an individual trader erroneously entering an order, known as “fat finger” on Wall Street.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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