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The May 6, 2010, flash crash, [1] [2] [3] also known as the crash of 2:45 or simply the flash crash, was a United States trillion-dollar [4] flash crash (a type of stock market crash) which started at 2:32 p.m. EDT and lasted for approximately 36 minutes.
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Flash crashes are frequently blamed by media on trades executed by black-box trading, combined with high-frequency trading, whose speed and interconnectedness can result in the loss and recovery of billions of dollars in a matter of minutes and seconds, but in reality occur because almost all participants have pulled their liquidity and ...
A futures trader at Waddell & Reed (WDR) financial advisory firm is reportedly the culprit who may have kicked off what turned into the May 6th $1 trillion stock market plunge. The "fat finger ...
A London-based trader who traded on the Chicago Mercantile Exchange, Navinder Singh Sarao, accused of contributing to the 2010 Wall Street "flash crash" by placing bogus orders to spoof the market, fails in his legal bid to stop extradition and will now be sent to the United States to face trial where he is wanted by U.S. authorities on 22 ...
Remember the flash crash? That was the 20 minutes on May 6, 2010 when the Dow lost almost 1,000 points before partially recovering. Most investors have forgotten about it.
On November 22, 2013, Judge Alvin Hellerstein sentenced Serageldin to 30 months in prison. [9] [3] Serageldin also agreed to return $25.6 million in compensation to Credit Suisse. [3] On January 21, 2014, Serageldin was ordered to pay more than $1 million to settle the lawsuit by the U.S. Securities and Exchange Commission. He was also ...
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