Citi says a trader error caused Europes “flash crash.”
Nordic shares were hit the hardest, with Sweden's Stockholm OMX 30 share index falling by as much as 8% at one point, before paring most of those losses to close the session down 1.9%.
"On Monday, one of our traders made an error when inputting a transaction. Within minutes, we identified the error and corrected it," a spokesperson for
(Unable to link article)
Thoughts on this? How easy would it be for a few different parties to crash a countries, or entire regions, economy? Somebody at citi getting fired now?
Citi appears to have a history of typos. Maybe they need keyboards with bigger keys, or smaller fingers.
"In 2020, Citi accidentally wired $900m of its own money to creditors of the cosmetics group Revlon"