This week in finance will be one not many forget. For more than three hours the Nasdaq showed a flat-line as trading stopped due to a technical error. Investors, the twitter-sphere, and CNBC went bonkers. Nasdaq was trending on twitter, CNBC has 12 different analysts on the screen at the same time, and the Nasdaq itself kept delaying the reopening on the market. A day afterwards, Reuters has unveiled more information about the technical issues, but not much…
“Nasdaq blamed a problem with distributing stock price quotes for the shutdown. A source familiar with the matter described the problem as a “data feed issue.”
Just about everyone and their mom is attempting to find detailed source of the issue. While the search continues, this prompts us to revisit other technical issues in the market. Earlier this year, the Dow Jones plummeted 143 points in seconds, and then grained it back in the same time, after the market reacted to a hacked tweet stating the President was injured.
In the managed futures world, we can’t help but point out that Nasdaq futures kept going like nothing was happening during the craziness. This proves once again that managed futures can prove port in a storm. As we think over this week’s events, here are some weekend reads.
- Trading places: From peak to FLOORED (a documentary) – (Futures Magazine)
- The Top 5 Behavioral Hazards For Managing Asset Allocation – CapitolSpectator
- The SEC Thought Charlie Munger Was Hiding A Hedge Fund In Some Newspapers – (Dealbreaker)
- Soybean Futures Rise to 10-Week High on U.S.Crop Concerns – (Bloomberg)
Just for Fun
- The God of ‘SNL’ Will See You Now – (New York Times)
- Can You Solve Slate’s Gerrymandering Jigsaw Puzzle? – (Slate)
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