The Broader Market

I stand corrected.  There was nothing fundamental (or rational) in what happened yesterday.  

There is some suspicion of a computerized trading error in which a short position on the S&P index was inadvertently increased in quantity from millions of shares to billions of shares.  This would explain why other companies that comprise the index saw their stocks tumble to record lows in a matter of minutes before completely rebounding. (Click here to see the behavior of Accenture’s stock yesterday).