Holyfuckingshit

Voltron says: word on the street is that some bonehead at Citigroup fat fingered a "B" instead of an "M" and caused a cascade of automatic trades that sent the DOW down about 7% in about 15 minutes. Ironically the high frequency traders panicked and shut off their systems, removing needed liquidity. The market subsequently recovered almost all of the loss from the dip, but not 3% it had been down before the dip. It's odd that the dip happened right after 2:30 when it would not have triggered a market closure unless it fell 20%



Voltron says: A trillion dollars was transferred during the dip. Many people had stop loss orders triggered. Was it a last desperate money grab by Citigroup or Goldman?