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NJ Investor Upset World Didn't End When Stocks Plunged
By
Jen Chung
Published May 7, 2010
Modified May 7, 2010
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By
Jen Chung
Published May 7, 2010
Modified May 7, 2010
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Guess who was hoping that yesterday's volatile stock market activity was an actual reckoning, instead of some sort of computer glitch? NJ attorney Mark Waterson, who complained to Bloomberg News. At 2:47 p.m. yesterday, "Watson said he sold 26 shares of Apple, which he bought for $189 a share in 2007, at $223.99 yesterday. The stock regained value minutes later, closing down 3.8 percent at $246.25."
Naturally, he wishes the stock trade was one of the cancelled ones. He said, "It just seemed like the end of the world was coming. I would not have done it had I known there was some type of a technical error or glitch. Basically, I got screwed." Here's a list of Nasdaq's cancelled trades and here's the NYSE list.
As for today's stock market activity, the Dow was down 139 points (1.33%), Nasdaq was down 2.33% and S&P 500 was down 1.5%—this was one of the markets' most volatile weeks since the 2008 financial crisis.
Tagged
apple stock
computer glitch
economy
stock market
trading error
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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