On Thursday, the market briefly lost its mind. Some combination of an erroneous trade and massive amounts of computer algorithms sent stocks plunging -- the Dow fell nearly 1,000 points at one point … before rocketing right on back. For the day, the major indices were off about 3%.

The NYSE and Nasdaq have canceled trades of 296 companies from Thursday, including Accenture and Boston Beer, which both fell all the way to $0.01 at one point.

Here at the Fool, we're using May 6 as a reminder to focus on the long term -- because sometimes the daily machinations of the stock market aren't tied to the underlying value of the businesses.

If you missed what happened, here's a roundup with news, commentary, and analysis:

In review

Collateral damage

Community take

News from the Associated Press