President Barack Obama said regulators were investigating yesterday’s collapse “with a concern for protecting investors and preventing this from happening again,” Reuters reports, even as Rep. Paul Kanjorski of Pennsylvania said he will hold a hearing next Tuesday, May 11, at 3pm to address the causes for the collapse.
Calling the stock market “swoon” incredibly startling, Kanjorski vowed that “we cannot allow a technological error to spook the markets and cause panic.”
The Dow is currently down 51 points at 10,469, while the S&P 500 is off 6 points at 1,121. The tech-heavy Nasdaq is off 26 points at 2,293.
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