US regulators to probe market crash

Analysts say human error was behind Thursday's record-breaking volatility.

    Asian markets closed down sharply on Friday, reacting to the European debt crisis [Reuters]

    "The regulatory authorities are evaluating this closely with a concern to protecting investors and preventing this from happening again," Obama said.

    "They will make findings of their review public along with recommendations."

    Analysts have suggested that human error was behind the crash - that a trader typed the wrong instructions into a computer.

    "The most likely explanation seems to be the 'fat fingers' explanation, that someone entered 'billion' when they meant to enter 'million,'" Al Jazeera's John Terrett said.

    Volatile trading

    Other markets around the world had bumpy rides on Friday. The European debt crisis is blamed for drops on bourses in Japan, South Korea, Australia and the UK.

    China's benchmark Shanghai index tumbled 2.4 per cent in early trade, before rallying to end the day 1.9 per cent down. Shares in Taiwan, Singapore and New Zealand also fell sharply.

    In the United States, the Dow Jones Industrial Average dropped by more than 300 points in early trading; it recovered some of its ground shortly before noon, and closed down 140 points, a 1.3 per cent drop.

    SOURCE: Al Jazeera and agencies


    YOU MIGHT ALSO LIKE

    The shocking story of Israel's disappeared babies

    The shocking story of Israel's disappeared babies

    New information has come to light about thousands of mostly Yemeni children believed to have been abducted in the 1950s.

    Stories from the sex trade

    Stories from the sex trade

    Dutch sex workers, pimps and johns share their stories.

    Inside the world of India's booming fertility industry

    Inside the world of India's booming fertility industry

    As the stigma associated with being childless persists, some elderly women in India risk it all to become mothers.