Page 19 - Flash Crash News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Measure. and in fact if anything maybe money is being saved today because more people wanting to be selling off because of the news in china so there's no way to speculate i think the impact of the shutdown market. but what does it do to traders? what does it do to the psyche? >> well the basis of the capital market system has to be confidence. i think we can all agree that wall street has had a bit of a consumer confidence problem now for a number of years. we have this thing called the flash crash four years ago where the market fell about 900 points because of bad trades that were made. the...

Activities. in fact the individual in london who was at least partly responsible for additional selling was arrested a few months ago for tampering to a certain extent with the market. and then it was kind of a cascade of events the dow fell as much as 1,000 points in 30 minutes from down 300. within that 30-minute period it had gone down 1,000 and rebounded to minus 300. we called that a flash crash. that was partly fundamental, partly systemwide problems. stocks that were trading at $40 briefly traded for a penny. it was a massive kind of break in the market structure. that doesn't seem to b...

This is going to go to the core of confidence paul brought up earlier. investors have been through a lot. the financial crisis, the flash crash. they're nervous. they don't that sort of full faith in market function, i think, they used to. so when something like this happens, officials are very aware of that so they don't want to have a false open. they need to test the entire system with all of the participants first before they reopen. so i have a feeling even if they've identified it, that's why it's taking so long. they want to have all the boxes checked before they open for trading. >> ra...

>> there's been an exponential increase in the amount of shares that are moving around every day. the entire value of the market now flips over about once every ten months i. used to be years and years. what's interesting, let's assume this was a computerized trading problem, a flash crash as they call it. it wouldn't be such a big deal if people were buying and holding stocks like they used to. it's a much bigger deal because the volumes are so great. then you get a lot of turbulence from an event like this. >> if it's a technical glitch, talk to me about the difference -- technical glitch ha...

We were talking about china stocks falling. >> i'm looking, just 48 hours ago, we had the conversation with greece. >> and now we're going back to being worried about what we were already worried about, not this. >> will this at all impact anything globally or it's pretty self-sustained? >> i think that what this does is two things. first of all, everybody looks to the u.s. market for reliability, for dependability and stability and when something like this happens it rattles investors. people lose confidence. happened during the flash crash when the nasdaq went down. this is zernl something t...