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Reuters reveals Citi behind trade that caused brief European share plunge

Business & Finance

Reuters revealed that a sudden fall in European shares driven by a brief crash in Nordic markets was caused by a single sell order trade by Citigroup. The flash-crash involved an erroneous calculation relating to a Nasdaq index involving Swedish companies. The Stockholm OMX 30 equity benchmark index was one of the hardest hit, falling by 8% at one point following a five-minute dive, before paring most of its losses to trade down 1.7%.

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Topics of Interest: Business & Finance

Type: Reuters Best

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Sectors: Business & FinanceFinancial Services

Regions: Europe

Media Types: Text

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