On May 6, 2010, the Dow Jones Industrial Average (DJIA) lost about 1,000 points in roughly 15 minutes, before regaining that loss just as quickly. That incident, now known simply as the Flash Crash, was the result of a large mutual fund firm selling large number of futures contracts, setting off a feedback loop among computers at high-frequency trading (HFT) firms—HFT firms that sent the market into a free fall.
That is not an isolated incident. Flash crashes have occurred with worrisome regular
Victor Anderson, who is in town from London, joins Anthony and James to dig into the key themes from Waters USA.Subscribe to Weekly Wrap emails
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