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Citigroup trader triggers European flash crash

Citigroup has blamed a fat-finger error for a flash crash that briefly halted trading on European stock markets on Monday.

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Citigroup trader triggers European flash crash

Editorial

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Trading was suspended in several markets after major share indexes plunged just before 8am GMT on Monday.

Nordic stocks were hit the hardest, while other European indexes also plummeted for a short time.

Sweden’s benchmark OMX 30 index fell by nearly 8%, but recouped most of the losses and ended the day 1.9% lower.

The Europe Stoxx 600 index of Europe’s leading shares lost as much as 3% before closing down 1.5%. The UK stock market was closed for a bank holiday.

“This morning one of our traders made an error when inputting a transaction,” Citigroup said in a statement on Monday night. “Within minutes, we identified the error and corrected it.”

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