Report: Stock-Market Plunge May Have Been Caused by Idiot Citigroup Trader


So today's big market drop? The one that had analysts tearing out their hair and traders rending their garments and economists moaning about how it was all because of Greece, Europe, there would be a Domino effect, we would all be doomed? Yeah. It might have just been an oopsie, CNBC reports.

According to multiple sources, a trader entered a "b" for billion instead of an "m" for million in a trade possibly involving Procter & Gamble, a component in the Dow.

What bank is responsible for this illiterate manipulator of worldwide markets, you ask, knowing full well the answer:

Sources tell CNBC the firm in question that handled the erroneous trade is Citigroup. The bank said it has no evidence of a bad trade but is investigating the situation


Stock Selloff May Have Been Triggered by a Trader Error [CNBC]