The "Flash Crash" that occured in May 2010, which caused the Dow
to drop as much as 998 points in a matter of minutes, was caused by a number of events, including economic news out of Europe, earlier that day, and "significant sell orders coming into the market and the liquidity was drying up very rapidly," Gary Gensler, chairman of U.S. Commodity Futures Trading Commission, told CNBC on Friday.