A short-but-steep fall in European stocks on Monday was induced by a Citigroup trader’s input mistake, the banking large stated.
The so-identified as Flash Crash, which tanked the Stockholm benchmark index OMX 30 extra than 8% in the span of a few minutes, temporarily halted trading Monday all over 8 a.m. GMT following stocks abruptly dipped.
Citigroup, headed by Chief Executive Jane Fraser, took the blame for the limited-lived jolt to the markets.
“On Monday, a person of our traders created an error when inputting a transaction,” a Citigroup spokesman stated in a assertion. “Within minutes, we recognized the error and corrected it.”
Regardless of Citi getting the fall, stocks even now concluded the day practically 1.8% reduced in portion due to the fact many holidays throughout the globe thinned trading volume and also for the reason that of disappointing financial info from Germany and China.
European marketplaces had been blended Tuesday.
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