Marketplace Morning Report for Wednesday, April 22, 2015
Airing on Wednesday, April 22, 2015: May 6th 2010 at 2:42 pm Wall Street Time, the Dow began a sickening slide of more than 1000 points in just a matter of minutes. By shortly after 3 PM, prices had largely recovered. What came to be known as the "Flash Crash" freaked everybody out and led to new circuitbreakers built into markets. A post mortem later showed that a single big trade by a financial firm may have precipatated this, but that high frequency traders made things worse. With that background, here's the news: authorities in London have now arrested a high frequency trader, 36 year old Navinder Singh Sarao, for allegedly trying to manipulate the market during the flash crash—perhaps single-handedly, using commercially available software. More on that. Plus, we'll talk to Kristen Lewis, co-director of Measure of America, about well-being in the U.S. and variations between congressional districts.
Airing on Wednesday, April 22, 2015: May 6th 2010 at 2:42 pm Wall Street Time, the Dow began a sickening slide of more than 1000 points in just a matter of minutes. By shortly after 3 PM, prices had largely recovered. What came to be known as the “Flash Crash” freaked everybody out and led to new circuitbreakers built into markets. A post mortem later showed that a single big trade by a financial firm may have precipatated this, but that high frequency traders made things worse. With that background, here’s the news: authorities in London have now arrested a high frequency trader, 36 year old Navinder Singh Sarao, for allegedly trying to manipulate the market during the flash crash—perhaps single-handedly, using commercially available software. More on that. Plus, we’ll talk to Kristen Lewis, co-director of Measure of America, about well-being in the U.S. and variations between congressional districts.
