The difference between a B and an M may have caused Thursday's heart-stopping Dow plunge of nearly 1,000 points.
A trader may have accidentally entered $16 billion - instead of $16 million - in a deal involving Procter and Gamble, sparking the massive selloff, according to multiple reports.
"I heard it was a trading error at a big firm," trader Charlie Flood said outside the New York Stock Exchange after the market closed. "Somebody hit a wrong button."
The stock market rebounded from its 998-point nosedive - its biggest point drop ever - to close down 347.80 points, a 3.2% decline, at 10,520.32.
"It was panic," Flood said. "We haven't seen this in a long time."
"It became a frenzy," said Brad Pine, a Manhattan investment adviser.
As fears over Greece's debt crisis spread global economic jitters, Procter & Gamble's share price suddenly - and inexplicably - plummeted nearly 37% to $39.37.
The drop ignited sell orders across the market.
By the close, P&G was off just 2.2%.
Reps from the major U.S. stock exchanges and the Securities and Exchange Commission held an emergency conference call last night to look into potentially mistaken trades involving a number of stocks.
Nasdaq announced it will cancel all trades of stocks at prices that were 60% above or below the last price at 2:40 p.m., or immediately prior.
The crash began just after 2:30 p.m. The Dow went from being down 400 to down 800 in just minutes, eventually slipping below 10,000 to 9,869.
The bottom falling out felt like "what happened in 1987," said investment adviser David Honigstock, referring to the worst day in modern history for the Dow - Oct. 19, 1987, when stocks plunged 22.6%.
"You look at your screen and you see the market in a complete free fall," he said.
By 3:09 p.m., the market had regained 700 points.
Beyond the apparent computer glitch, the troubles in Greece added to the panic selling, with TV stations showing scenes of rioting protesters angry over government austerity measures.
"There was a fundamental concern about the entire European continent," said Peter Boockvar, a strategist at Miller Tabak. "The world is a much more dangerous place right now."
Traders warned of more stomach-churning days ahead as the crisis in Greece continues.
"Until we resolve the situation, volatility is here to stay," said Ryan Detrick, senior technical analyst at Schaeffer's Investment Research.
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