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"

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Comments (9)

  • Analyst 2 in PE - LBOs
May 3, 2022 - 5:35pm

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

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May 4, 2022 - 9:01pm
Pio nono, what's your opinion? Comment below:

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. 

May 5, 2022 - 7:25am
FaberGrad, what's your opinion? Comment below:

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