The Phaserl


Fat Finger Flash crash: Israel stocks hit by typo

from CNBC:

A typing error by a clerk at the Tel Aviv Stock Exchange (TASE) caused one of Israel’s largest investment firms to lose nearly 100 percent of its market value on Sunday, with the Tel Aviv 25 falling 2.5 percent for a five minute period.

The share price of Israel Corporation – the country’s largest holding company which specializes in fertilizers and specialty chemicals – fell sharply from 167,200 Israeli shekels ($46,385) to 210 shekels ($58) after a TASE member entered a wrong number. The trader was trying to sell shares in another company, according to TASE and accidentally selected Israel Corp.

The mistake caused a mini-crash at 12.20 p.m. local time on Sunday and shares traded lower for five minutes before the index was halted.

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1 comment to Fat Finger Flash crash: Israel stocks hit by typo

  • Hoser

    Maybe it was an Iranian EMP? Should’nt joke about that I guess. Israel might loose one of their 300 Tactical Nukes. Or perhaps, one of their micro-nukes?

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