Wave of Volatile Trading Unsettles U.S. Markets – NYTimes.com

1 Aug

Whoops! Better not do that again. All this technology, all these mistakes.

The runaway trading suggests that regulators have not been able to keep up with electronic programs that increasingly dominate the supercharged market and have helped undermine investor confidence in stocks.

Traders on Wednesday said that a rogue algorithm repeatedly bought and sold millions of shares of companies like RadioShack, Best Buy, Bank of America and American Airlines, sending trading volume surging. While the trading firm involved blamed a “technology issue,” the company and regulators were still trying to understand what went wrong.

via Wave of Volatile Trading Unsettles U.S. Markets – NYTimes.com.

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