Nasdaq Operations said it will cancel all trades executed between 2:40 p.m. to 3 p.m. showing a rise or fall of more than 60 percent from the last trade in that security at 2:40 p.m or immediately prior.

According to Reuters, NYSE Arca may cancel a number of trades that occurred during the same time period.

In the meantime, the SEC and CFTC will begin an inquiry into the trading which took place as the market fell nearly 1,000 points

Douglas A. McIntyre