The U.S. authorities to investigate the record drop of stocks

The Commission on the Securities and Exchange Commission (Securities and Exchange Commission, SEC) and the Board of Trade commodity futures (Commodity Futures Trading Commission, CFTC) U.S. will investigate to find out why a record drop in U.S. stock indexes trading on May 6. This is stated in a joint press release.

In a statement the SEC and SFTC states that the two agencies together with other financial regulators are going to find out the reasons for unusual activity at the auction. Following an investigation the SEC and SFTC present their findings and recommendations of the bidders.

May 6 in the course of trading U.S. stock indices have collapsed by more than 9 percent, and the session concluded with the fall of more than 3.2 percent. In particular, the decrease in Dow Jones during the day amounted to 8.2 per cent, or almost 1000 points, which has not happened since the establishment of the index.

According to unconfirmed reports, the collapse could be caused by a technical glitch in the system of trades or typographical errors. According to the Stock Exchange NYSE Rica Adamonisa, who leads Bloomberg, during the auctions were a number of erroneous transactions.