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Blame Technology for May 6 Stock Plunge?

Posted by udi on May 12, 2010 in Business, Technology | 5 comments

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Billions Lost: Blame Technology for May 6 Stock Plunge? Maybe it wasn’t Greece after all. Thursday’s massive stock plunge was originally blamed on the fragile Greek economy — but a Chicago-based computer glitch may be the true culprit. Because machines now perform the task of transferring stocks — instead of floor traders matching buyers and sellers – the rate of...