Human error sends the New York Stock Exchange tumbling
We’ve all made mistakes at the office from time to time, but spare a thought for one worker who may have single-handedly brought down the New York Stock Exchange with just one tiny error.
The mistake of one employee has wiped billions of dollars off the charts for some of the globe’s largest companies.
The individual reportedly triggered wild swings and volatility on the New York Stock Exchange.
A number of big brand names were caught up in the catastrophe. It included McDonald’s, Walmart, and Mobil.
The NYSE eventually came clean. Officials admitted the“root cause” of the screw-up was a “manual error” from a staff member in the backup data centre.
The employee accidentally left the system running.
That’s why some stocks behaved as if trading had already started, with no opening prices being set, sending the market into a meltdown. #trending #featured
