Thread: News Stories
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Old 2012-08-01, 18:56   Link #22739
ganbaru
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Join Date: Dec 2007
Location: Betweem wisdom and insanity
Error by Knight Capital rips through stock market
http://www.reuters.com/article/2012/...8701BN20120801
Quote:
A technology breakdown at a major trading firm roiled the prices of 140 stocks listed on the New York Stock Exchange on Wednesday, undermining fragile investor confidence in the stability of U.S. stock markets.

The problems at Knight Capital Group Inc (KCG.N), one of the largest firms that buys and sells stocks to provide liquidity to the markets, emerged at the beginning of trading.

Heavy computer-based trading caused a rush of orders for dozens of stocks, ranging from well-known bellwethers like General Electric (GE.N) to tiny Wizzard Software Corp (WZE.A), whose shares soared to $14.76 after closing the previous day at $3.50.
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