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US bank admits trader blunder after ‘flash crash’ hits European shares

May 3, 2022

Via: Sky News

While the FTSE 100 was closed in London for the Bank Holiday, other European stock markets endured plunging values with Sweden’s OMX 30 falling the most – by 8% – in a matter of minutes.

Citigroup said on Monday night that it had acted swiftly to correct the blunder by one of its traders, who was reported by Bloomberg to have been based in London.

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