Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Global oil dynamics shift as OPEC+ agrees on 2 million bpd cut

    December 2, 2023

    New insights into natural remedies for heart health

    December 2, 2023

    Dow surges to 2023 peak, propelling November’s stock market rally

    December 1, 2023
    Facebook X (Twitter) Instagram
    Angola ReportAngola Report
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Angola ReportAngola Report
    Home » Citigroup Inc employee error wiped out $315 billion from Europe stocks
    Business

    Citigroup Inc employee error wiped out $315 billion from Europe stocks

    May 4, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    After a sudden 8% decline in Swedish stocks, Citigroup Inc. said its London trading desk caused a flash crash in Europe that sent shares across the continent tumbling. A trader at the New York-based bank made an error when entering a transaction this morning, the bank wrote in a statement. The error was corrected shortly after the mistake was found.

    Citigroup Inc employee error wiped out $315 billion from Europe stocksCitigroup is in discussions with regulators and exchanges about the incident, reveals a person familiar with the matter who requested anonymity in order to discuss non-public information. The OMX Stockholm 30 Index experienced a knee-jerk sell-off, which knocked over the main European indices by as much as 3% in less than five minutes, wiping out 315 billion euros at one point in time.

    Nasdaq Stockholm spokesman said the short-lived slump was not a technical glitch. “Our first priority was to rule out technical problems with our systems, and our second priority was to rule out external attacks on them. “We have now excluded both,” said Nasdaq Stockholm spokesman David Augustsson. “A very substantial transaction by a market participant is clearly the driving force behind this move in the market,” he confirmed.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Global oil dynamics shift as OPEC+ agrees on 2 million bpd cut

    December 2, 2023

    Dow surges to 2023 peak, propelling November’s stock market rally

    December 1, 2023

    Japan rolls out $113 billion economic plan amid rising inflation.

    November 3, 2023

    UK unveils plans for comprehensive crypto regulation by 2024

    October 31, 2023
    Latest News

    Global oil dynamics shift as OPEC+ agrees on 2 million bpd cut

    December 2, 2023

    New insights into natural remedies for heart health

    December 2, 2023

    Dow surges to 2023 peak, propelling November’s stock market rally

    December 1, 2023

    UAE and Mongolia strengthen ties with strategic agreements in Abu Dhabi

    December 1, 2023

    Triumph shakes up motocross with the powerful TF 250-X

    December 1, 2023

    Apple breaks the mold with its MacBook Pro and M3 chip lineup

    November 3, 2023

    Japan rolls out $113 billion economic plan amid rising inflation.

    November 3, 2023

    $10.6 billion Halloween reveals the environmental toll of America’s spooky celebrations

    November 2, 2023
    © 2023 Angola Report | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.