Looks like SOMEONE forgot a zero … and then the high frequency trading algorithms took over.
Anyone remember Office Space?
More than US$50 billion of market value was erased from the world’s 10th biggest company. A gauge of market stress got too jammed up to function.
[np_storybar title=”Wall Street, TSX resume slide as global stock rout leaves sea of red” link=”http://business.financialpost.com/investing/global-investor/a-sea-of-red-as-stock-rout-spreads-through-europe-after-china-market-plunge-theres-panic”]
Following a midday rally, North American stocks are fading again after a massive morning plunge pushed Canadian stocks to the lowest levels since 2013, with the Dow falling more that 1,000 points
The largest technology stocks recorded a correction — in the space of a few seconds.
Such was the drama at the open of trading in the American equity market Monday, when waves of global selling battered stocks with almost unprecedented force. At its worst, about US$1.2 trillion of market value had been erased from U.S. shares before prices leveled off and the Dow Jones Industrial Average rebounded almost 1,000 points.
At one point the…
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