Flash Crash---A phenomenon occurring on global electronic exchanges on May 6, 2010.
Indexes fell hundreds of points this fateful afternoon and did bounce back but the prices of many
shares remained negative at the closing bell. The hasty sounding closing bell
this day will forever remain in main memory. Supposedly the episode caused
nearly a trillion dollars damage to some publicly traded corporations, at least
according to legend, although the next day many of the trading orders were
cancelled retroactively. US Secretary of the Treasury Timothy Geithner remained
confident this unfortunate day would not interrupt the global economic
recovery. History will remember him kindly. See also fat finger trading and algorithms.
Indexes fell hundreds of points this fateful afternoon and did bounce back but the prices of many
shares remained negative at the closing bell. The hasty sounding closing bell
this day will forever remain in main memory. Supposedly the episode caused
nearly a trillion dollars damage to some publicly traded corporations, at least
according to legend, although the next day many of the trading orders were
cancelled retroactively. US Secretary of the Treasury Timothy Geithner remained
confident this unfortunate day would not interrupt the global economic
recovery. History will remember him kindly. See also fat finger trading and algorithms.