When stock prices fell for 20 minutes on May 6, 2010, several computerized trading systems did what they were programmed to do: halt executions due to violent market volatility. Soon after, the Dow Jones Industrial Average plunged 998.5 points, erasing $862 billion in a matter of minutes, due to computers at other exchanges misinterpreting the freeze as a rapid bidding down of stocks.
While market “glitches” like these have received ample media coverage, they are largely ignored by investors, according to the latest Investor Sentiment Poll released by TD Ameritrade Holding Corporation.
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