At 14:45:28 p.m. ET, CME Group's emergency mechanism was triggered, and trading was forcibly stopped.

As trading resumes again, huge short orders suddenly disappear!

At this time, the three major North American indexes also began to soar rapidly, and a trader in the trading floor excitedly shouted: "Rebound, violent rebound——! ”

This scene was really too exciting, and everyone present was extremely excited.

After a while, another trader roared with extreme excitement: "Hahaha numb, we are going to make hemp, the bears have just finished eating, the profits of the bulls have begun to run wildly, the long and short profits have accumulated to 28 billion US dollars, and they are still increasing, still increasing, to break through 30 billion US dollars, the Vozhnyima money printing machine is not so fast!" ”

It's really exciting.

The scale of profits obtained by Qunxing Capital in intervening in major varieties soon exceeded the $30 billion mark.

Earn hemp!

Over time, half an hour later, the three major North American indexes recovered most of their losses, and Accenture's stock price rebounded from the $0.01 level to above the $35 level before becoming relatively stable.

The intraday flash crash fell to -99.97%, and then rushed up in just ten minutes, rebounding from $0.01 to above the $35 level, an increase of 3,500 times.

Judging from the exchange of hands on the board, someone really bought it at the price of $0.01.

Although it is not much, there is indeed a transaction at this price, and it directly realizes 3,500 times in ten minutes.

What a roller coaster!

What do you mean by big ups and downs!

What is the winning hemp of winning hemp and losing the loss of hemp!

At this moment, the U.S. stock market is showing a ...... to all traders

Procter & Gamble's share price also rebounded above $57, rebounding 45 percent from its lowest point; Apple's share price also rebounded more than 20 percent from $199.25 to above $240, and 3M rebounded more than 22 percent from its lowest point of $67.98 to above $83......

Other stocks such as ExxonMobil Oil, Disney, Cisco, Google, Oracle, Nike, Visa, etc., all rallied violently after a plunge and regained lost ground.

The three major indices have also begun to continue to recover.

The largest intraday decline in the Dow's 114-year history occurred in a very short period of time and ended in a very short period of time.

It was as if it were just a nightmare.

But it is not a dream, but a real fact, and the result is that some people earn a lot of money, while some people have no money, or even bankrupt their families, and countless people's wealth is harvested away.

There is no doubt that Qunxing Capital is one of the winners of making hemp.

The specific losses caused by this short and violent fluctuation are difficult to count, and the media in Europe and the United States have exploded, and what happened in the capital market has been reported by various media for the first time, and it has also spread to China.

However, mainland investors are basically sleeping, except for some night owls, the vast majority of people are not aware of the flash crash in the US stock market.

With most of the losses of the three major U.S. stock indexes recovered, this flash crash has just begun to ferment.

Soon, multiple internal sources rumored that it was a trading error by a Citi trader, which made the whole flash crash worse.

The legendary Oolong Finger?

Some media broke the news that a trader suspected of being Citigroup mistakenly typed "M (million)" as "B (billion)" when executing stock trading, which triggered at least one of Procter & Gamble's Dow constituents to fall sharply, and finally triggered program trading.

Procter & Gamble's stock price fell from $60 to $39.37 during the session, another company, 3M, also fell from $85 to around $72 during the session, and Accenture's stock price fell from $40 to only 1 cent.

Some people think that it is not reliable for traders to induce a market dive due to wrong button presses, and Citi's "e-mini" totaled only $9 billion that day, which is still quite far from $16 billion.

However, some observers have expressed a different view, arguing that there should be more than one source of the wrong transaction.

Citigroup reacted quickly, issuing a statement saying that the company and other financial groups would be committed to investigating the real culprits who caused the huge market volatility, but there is no evidence that Citi was involved in the transaction.

Source change app】

Citi played a trifecta of denial!

A person close to Citi said that the wrong e-mini transaction came from CME Group.

Citi dumped the pot at CME Group.

When CME Group saw this situation, he sent a sentence in his heart, Madefaq, can this pot be accepted? CME Group immediately issued a statement saying that it had not found any problems with its trading system, and at the same time sent a cordial greeting to Citi in the heart.

Soon, the New York Stock Exchange and Nasdaq also hurriedly jumped out to clear up their relationship.

The NYSE said that no technical glitches were found with the trading system during the crash, and the Nasdaq also said that my trading system was also faulty, and the matter had nothing to do with me.

Well, it's all fine, it's all clean......

So here's the problem.

Who did it?

Who is that mysterious big bear?

And how much money did the bears make by taking advantage of this catastrophic crash?

The major exchanges and institutions in the financial circle have dissociated themselves, and soon they have found a person to carry the pot - programmatic trading!

Pair ——!

It must be programmatic trading that is playing tricks!

Soon a tacit consensus was reached that the flash crash of the stock market was a trick on programmatic trading!

If something happens, someone has to carry it.

This programmatic deal is the best place to be!

However, when this happens, it is definitely impossible for several major exchanges and financial institutions to deny it three times in a row, and the matter is still fermenting.

At about half past six in the afternoon local time in North America, US Treasury Secretary Geithner held an emergency conference call, and many elders of the North American financial authorities, such as Bernanke, then the head of the Federal Reserve, Shapiro, the then head of the US Securities and Exchange Commission, and other North American financial authorities were all present.

There was only one question to be discussed, and that was what happened in the afternoon!

From computer glitches and trader mistakes, from hack attacks to terrorists, almost all answers have been ruled out.

But such a result is unacceptable for the White House, trillions of dollars have evaporated from the market, and it is impossible to find the reason behind it?

Eventually, a temporary task force was formed, consisting of financial giants, regulators, Nobel economists, FBI agents, and 20 top lawyers.

Their task is to get to the bottom of this matter, and the investigation team decided to start a large number of visits, including but not limited to accessing a large number of transaction records and financial documents, and investigating major financial entities, from small securities companies to the Global Pension Fund.

It wasn't until five years later that the investigation team zeroed in on Sarau, but that's all for later.

And now that it has happened, no organization or individual has jumped out to take responsibility.

But this unprecedented flash crash always needs a reason, so it comes to the classic hindsight to find a reason, and people in Wall Street financial circles have pointed the finger at a derivative tool called "dynamic hedging".

Unlike other derivatives, one of the features of this tool is designed to place a buy order when the market rises; When the market falls, a sell order is issued.

As a result, when the broader market plummets, dynamic hedging tools send out a lot of sell signals, amplifying the market's decline.

As for the trader pressing the wrong button, it can only be said that it is one of the possibilities.

Taking a step back, a trader can still say the past if he presses the wrong button, but at the same time, the trader of many institutions has pressed the wrong button, which can't be rounded, and it can't be said.

……