>For at least a moment yesterday, the stock of Accenture -- a $25b
>company -- plunged to a penny a share.
>Now it's back up to $40 or so. Some weirdness going on.
The computers did it:
http://www.foxnews.com/politics/2010/05/07/obama-authorities-investigating-wild-market-swing/
President Obama said Friday that regulatory authorities are "evaluating" Thursday's wild swings in the stock market with an eye toward protecting investors and preventing something like that from happening again.
A computerized sell-off sent the Dow Jones industrial average plummeting by a near-record 1,000 points within about a half-hour Thursday afternoon. Fear that the European debt crisis could spread was a factor. The market regained two-thirds of that loss before the end of trading.
Obama characterized the swing as "unusual market activity" and said that regulatory authorities would make findings of their review public along with recommendations for "appropriate action."