Today's near-1,000 point selloff in the Dow Jones Industrial Average ($INDU) was reportedly caused by a "fat finger" mistake by a trader at Citigroup (C)

CNBC reported that numerous sources said that a trader entered a "b" instead of an "m" for million in a trade possibly involving Procter & Gamble (PG), a Dow component. The trader reportedly placed a sell order of $16 billion, instead of $16 million, worth of e-minis, futures contracts tied to equity indexes.



Citigroup said that it has "no evidence of an erroneous trade" but that it is investigating. P&G said that it was looking into the sudden drop in the price of its stock. P&G also said that it is working with the U.S. Securities and Exchange Commission about what caused the plunge in its stock price.