The Silly Plunge Excuse: IWM Was Heavily Selling Off Well Before PG

Apparently CNBC is telling its viewers that today's plunge was due to someone pressing B instead of an M, as in selling billions of shares of PG instead of millions. How odd.

Plotting PG and IWM (Russell 2000) for today:



PG is not even part of the Russel 2000.

If CNBC were correct, the system would be totally broken anyway and these banks should not be allowed to trade or use quants.

You'd think that a big fancy broker like that would have safeguards to prevent this. At least a little pop-up alert "do you really want to sell billions of shares"?

On 2nd thought it could Blankfein's computer "do you really want to crash the markets today?" ;-)