Trillion Dollar Glitch

ISBN-13: 9783565252138 / Angielski / Miękka / 116 str.

Richard P. Evans

Opis

"The Trillion Dollar Glitch - The day the stock market evaporated for 36 minutes" investigates the Flash Crash of May 6, 2010. At 2:32 PM, the Dow Jones plunged 1,000 points in minutes. Blue-chip stocks like Procter & Gamble traded for pennies. Then, just as quickly, prices bounced back.Financial writer Richard P. Evans tracks the culprit not to a major bank, but to a bedroom in London. Navinder Singh Sarao, a solitary trader known as the "Hound of Hounslow," used a "spoofing" algorithm to trick high-frequency trading bots, accidentally triggering a cascade."The Trillion Dollar Glitch" explores the fragility of automated markets. It shows how the global economy is now run by machines that can interact in unpredictable, destructive ways that no human can control or understand in real time.

The incredible story of how a guy in his bedroom in London accidentally crashed the US stock market for 36 minutes using an algorithm.