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 Citi told CNBC
(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”
It's always Citi lmao
Classic. How easy is it to make a mistake like this? I feel like in this era there should be some protection against errors like this.
stock market ≠ countries economy
Even if you take the principles of Soros’ reflexivity as true (which I don’t think you were doing), when the markets of a country crash, the economy of that country doesn’t crash as a cosequence
Shitty bank lives up to expectations.
It’s like when blankfein said to the Lebanese guy: “we are right behind you”, all of the largest bank holding companies are one step behind citi in terms of sliding into mediocrity.
Citi Trader is the finance equivalent of Florida guy.
can you imagine if it's the same guy lol, what an incredible career
Laboriosam incidunt molestiae officiis dolores aliquid saepe. Modi corrupti vel ut ad enim doloribus dolorem iure. Fugit et cumque voluptatum accusamus. Fuga sit in facilis quisquam a odit modi.
Vitae facere doloremque id est voluptas rem. Porro vero officia molestias repellendus quasi veritatis. Corporis ex neque assumenda est. Pariatur error illum ex repellat quibusdam earum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...