Based on a preliminary review, the SEC and the Commodity Futures Trading Commission said they found no evidence of "fat finger" errors, computer hacking, or terrorist activity involved in the May 6 market drop.

Still, the agencies acknowledged "we cannot completely rule out these possibilities" in a joint report released May 18. Going forward, the agencies said they will come up with a structural framework that aims to strengthen circuit breakers and handle erroneous trades.

The regulators are looking at six possible reasons for the drops including if there was a link between the decline in the prices of exchange traded funds and the simultaneous selling of individual securities.

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