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Fat finger briefly trims US$4B off Barclays' market cap

From bnnbloomberg.ca

Barclays Plc shares briefly dropped almost 10 per cent in the opening minutes of Wednesday’s session, the most intraday in more than a year, in what traders said was likely due to an error known as a “fat finger.” The stock entered a volatility auction at about 8:06 a.m. in London after two trades totaling about 48,000 shares at a price of 168.40 pence, according to Bloomberg data. The shares quickly recovered after the five-minute pause and were down 0.3 per cent to 186.32 pence at midday. Trades made in human error, or even by algorithms, are often referred to as “fat fingers,” a term stemming from the idea that a ... (full story)

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