Page 18 - Flash Crash News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Increasing fears about china's slowing economic growth. the question now is was what happened today and last week also a freak occurrence? a fluke like the flash crash of 2010? or it is a sign of something more alarming taking place in the world economy? something that signals the coming of something like another great recession. i'm joined now by nobel prize laureate joe steph stiglitz. it's a great pleasure to have you here. what sense can we make, to the degree there is sense to be made, of fluctuations in a stock market? what sense can we make of what happened? >> i think between the two e...

College was on a health desk. any time anyone called with any problem, we always assumed they were doing something wrong, it was human error. and usually we were right. yesterday, the stock exchange crashing was compared somewhat to the flash crash back in 2010 which we now know was due partially to human bad behavior. how often is it an actual technical glitch and how much is it people screwing up? >> with the flash crash, we had as you said bad behavior but that was also exacerbated by the fact that we have technology doing this high speed trading. so i think it's never one or the other. it'...

New york stock exchange came to a halt yesterday. it was quick to dismiss speculation though that this disruption was caused by hacking. saying it was an internal technical issue. the trading suspension came in the middle of a selloff in u.s. stocks that was spurred by a cratering in china's stock market. the dow jones industrial average fell by 261 points about, 1.5% for the day. although they're saying none of the cliches are related, united "wall street journal," people have to be worried about the dependence on technical systems that can go wrong like this. >> i think the point is well tak...

Activity at least when it comes to nyse and united airlines. united says it was a router that went bad. they fixed the router and things went back to normal. this morning's glitch is causing backups that could ripple into tomorrow. the nyse says the trading halt was a technical issue and not a cyberbreach. just like 2010's flash crash that pushed a trillion dollars of equity into a free fall into "n" a matter of seconds. >> i would imagine people are trying to affect the systems constantly. what the glitches illustrate is that the technology is not bullet proof. the new york stock exchange and...

Of confidence. in fact, the new york stock exchange was standing up proud when the nasdaq had computer glitches. the fact that it can go offline like this and that it's still vulnerable despite all the efforts, even on a federal level, that the market is vulnerable to a computer shutdown has got to be a warning shot. security experts have always worried ant this. now we all know it. >> isn't that effectively what the nyse trumpets itself asing? sort of impervious to this kind of cyber terror? >> they've had problems before, even if it's not crime or terror. they had glitch, we had the flash cr...