European stocks plunge, US Citi sell order triggered = officials | Reuters

The Stockholm stock market’s “flash crash” that caused the European stock market plunge on the 2nd was triggered by a single sell order placed by Citigroup, according to people familiar with the matter. Do you get it. Taken in March 2018 (2022 Reuters / Lucy Nicholson)

[London, 2nd Reuters]–The Stockholm stock market’s “flash crash” that caused the European stock market plunge on the 2nd was triggered by a single sell order placed by Citigroup. However, I found out from the story of the related sources.

Sweden’s OMX Stockholm 30 index temporarily fell 8% on this day as the UK was a holiday and trading volumes declined. The decline was chained to other markets such as Denmark, Norway, Germany, Italy and France.

The background to this was a miscalculation related to an index in Nasdaq, which incorporates Swedish companies, according to people familiar with the matter.

Nasdaq earlier announced that there was one sell-side order behind the plunge. No system failure was confirmed.

Citi declined to comment.

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