Flash Crash’ Report: Waddell & Reed’s $4.1 Billion Trade Blamed For Market Plunge

On Friday, federal regulators reported that a trading firm’s use of a computer sell order triggered the May 6 market plunge, which sent the Dow Jones industrial average careening nearly 1,000 points in less than a half-hour.

The press release is quoted as saying:

The firm’s trade, worth $4.1 billion, led to a chain of events that ended with market players swiftly pulling their money from the stock market, the report said.

Click here to access the entire press release