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Strategies & Market Trends : Classic TA Workplace

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To: yard_man who wrote (55197)	10/2/2002 6:42:22 PM
From: Ken98	Read Replies (1) of 209892

<<Bear Stearns places erroneous sell order of $4 billion Wednesday October 2, 6:16 pm ET NEW YORK (AP) -- Bear Stearns placed an erroneous order to sell $4 billion worth of stock late Wednesday at the New York Stock Exchange, but most of the order was canceled before it was executed. The NYSE said a clerical error caused the brokerage house to enter the order to sell $4 billion worth of Standard & Poor's securities at about 3:40 p.m. -- 20 minutes before the stock market closed. The order should have been for $4 million. All but $622 million of the $4 billion transaction was canceled prior to execution, the NYSE said in a statement. The NYSE had no further comment. Officials at Bear Stearns were not immediately available for comment.>>

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