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The top securities regulator said no single event had been found to explain Thursday's mysterious market plunge, but the shocking drop was unacceptable and additional safeguards were coming.
The SEC and the major trading exchanges agreed that a market-wide "circuit-breaker" system should be established to handle the type of market volatility demonstrated in Thursday's unsettling market plunge.
President Barack Obama said Friday that regulatory authorities were probing one of the wildest trading days in Wall Street history that left investors, government officials and traders scratching around for a cause.