Intra-day free fall on Wall Street not cyberattack, says official

08:58, May 10, 2010      

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There is no evidence that last Thursday's dramatic sell-off on the U.S. stock markets was caused by a cyberattack, a U.S. counterterrorism official said on Sunday.

John Brennan, U.S. President Barack Obama's top counterterrorism adviser, told the "Fox News Sunday" program that "There is no indication that a cyberattack" was behind the Thursday's sell-off on Wall Street.

Mounting fears of contagion from Greece debt crisis and possible "erroneous trades" sent the Dow Jones industrial average for a wild swing of more than 1,000 points on Thursday.

The Dow dropped 998.5 points, or 9.19 percent, to below 10,000 points amid intra-day trading. It was the index's biggest intra-day point plunge ever, and largest percentage intra-day loss since the market crash on October 19, 1987, when the index closed 22.6 percent lower.



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