Congress Calls for Hearing on 1000-Point Stock Market Plunge

By: Associated Press
By: Associated Press

Congress wants answers to the sudden stock market plunge and is pressing government regulators to undertake a thorough review to ensure that high technology trading is well monitored.

In the Senate, Democratic Sens. Ted Kaufman of Delaware and Mark Warner of Virginia are working with Senate Banking Committee
members to address Thursday's 1000-point market swing in a pending financial regulation bill. They want the Securities and Exchange Commission and the Commodity Futures Trading Commission to recommend how to avert the technological glitch suspected of precipitating the plunge.

In the House, Democratic Rep. Paul Kanjorski of Pennsylvania has
called for a hearing Tuesday of a House subcommittee to examine the causes of the sudden market drop. Kanjorsky has asked SEC
Chairwoman Mary Schapiro to investigate the causes of Thursday's
volatility.


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