Didn’t they say they were going to zero-out the trades during part of that time?
It sounds like they should let everything stay in place.
No more bailing out people or entities.
ya well some stocks like Boston Beer fell from near #60 to a penny and Accenture fell from $40 to a penny in a matter of seconds. Sotheby’s went in the other direction. After opening at $34.61, its shares briefly touched $100,000 before closing at $33. see more info on that here http://blogs.wsj.com/deals/2010/05/06/four-mega-drops-of-the-flash-crash-sam-adams-goes-flat/ — The NYSE Arca unit of NYSE Euronext (NYX: 29.26, -0.59, -1.98%) and Nasdaq, as well as other markets, planned to cancel all trades executed at prices that were greater than or less than 60% away from the last printed price prior to 2:40 p.m. Eastern time, up to 3 p.m. you can read that story here http://www.foxbusiness.com/story/markets/nyse-nasdaq-cancel-trades-height-volatility-thursday/ Im sure there is an update on that last one since it was a may 6 story, but it gives you an idea anyway
So I mean I think that it was a prudent thing for them to cancel the trades — because obviously there is a huge error in the system if stocks are going from $34 a share to $100,000 a share and from $60 to a penny in a matter of seconds.