While the pullback here in the stock market happened to start shortly after the 3 yr note auction, there was nothing unusual in the auction to be a cause of the stock selling. In fact, some can interpret the blah 3 yr auction as evidence of a flight from safety, thus contradicting the immediate equity selloff. Thus, there must have been a sell program of some sort and this is more technical in nature rather due to a fundamental event that none of us can figure out.
Read this next.
Previous PostFat Finger or Programmed Trading?