Hows this for a stuff up on Wall St. last night

  1. 258 Posts.
    As a result of a clerical error at approximately 3:40 p.m. today, Bear Stearns entered orders to sell $4 billion worth of S&P securities. The orders should have been entered as $4 million. All but $622 million of the orders were cancelled prior to execution. The firm has advised the NYSE that the risk from the executed orders has been substantially hedged."

    That error contributed to the Dow Jones Industrial Average's fall of 183.18, or 2.3%, to 7755.61 after trading as high as 7769.40 and as low as 7742. The S&P 500 slid 2.4% to 827.91, while the Nasdaq Composite shed 2.2% to 1187.30.
 
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