Major US bank had an order to sell $15 million of S&P e-mini contracts. Accidentally sold $15 billion.

Now, which bank?  Rumor is it’s Citi.

***Update:  Not sure this was an e-mini sell off.  Current rumor is that there was an accident with million/billion at Citi on a P&G stock sale.  Then this mistake triggered automated sell-offs when certain technical points were breached, most notably 1150 on the S&P.

I think we are going to HAVE FUN in the a.m. with the news announcements on the CME!  Woo-hoo!  We love volatility!  It’ll be a welcome change from the ho-hum reaction to Unemployment Claims today.

My prediction:  Do-gooder politicians who don’t know the stock market from the farmer’s market will now be clamoring for MORE “reform” for Wall St, computer programs and the Easter Bunny.  The market is the market, people.  It takes care of itself and the quick correction today is proof.

Me?  I’m going to go plant seeds.  Or play with wiener dawgs.