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

05/02/2022

Less than a minute

2022.05.02 23:42

Exclusive-Citi behind trade that caused brief crash in European markets -sources
FILE PHOTO: A Citibank branch is seen in Santa Monica, California, U.S. March 19, 2018. REUTERS/Lucy Nicholson

NEW YORK (Reuters) – The brief crash in Nordic markets on Monday was due to a single sell order placed by Citigroup (NYSE:C), 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.

05/02/2022

Less than a minute

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