Salem Radio Network News Sunday, May 22, 2022

Business

Exclusive-Citi behind trade that caused brief crash in European markets -sources

NEW YORK (Reuters) – The brief crash in Nordic markets on Monday was due to a single sell order placed by Citigroup, according to two sources familiar with the matter.

The flash-crash, which caused European shares to suddenly fall on a day of holiday-thinned trading activity, involved an erroneous calculation relating to a Nasdaq index involving Swedish companies, one source said. Citi declined to comment.

(Reporting by John McCrank; Editing by Chris Reese)

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