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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

Citigroup says trader made error behind ‘flash crash’ in Europe

Citigroup Citi Europe United States
Citigroup office in Canary Wharf in London
Citigroup said it identified the error and corrected it within minutes. Photograph: Suzanne Plunkett/Reuters

The US bank Citigroup has said that one of its traders made an error when European stock markets suffered a “flash crash” on Monday.

Trading was briefly suspended in several European markets on Monday morning, after leading share indices recorded sudden steep declines. One of the hardest hit was Sweden’s benchmark OMX 30 index, which fell by nearly 8%, but recouped most of the losses and ended the day 1.9% lower.

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