Trader's error wiped out $315 billion from Europe stocks in minutes - full details!

An employee's mistake has been blamed for yesterday's sharp fall in the European stock market.

Stock Market

The lesson of the stock market is to be very careful when buying and selling shares of companies. Even a small event that takes place in some corner of the world can cause huge changes in the stock markets. Similarly, if large companies or key players in the stock market decide to sell shares in a particular company that they own, sometimes other investors are more likely to decide to sell shares in that company. Even small mistakes like this can sometimes affect the stock market as a whole.

That is how the European stock market fell sharply yesterday. It has been revealed that the reason for this is a mistake made by a trader of a private bank.

24 trillion crore loss

European stock market plunged shortly after opening yesterday morning, with the European stock market stalling as a trader of a private banking company changed a trading order.

Shares of Sweden fell as much as 8 percent due to an erroneous transaction order by a trader belonging to the banking institution.

Description

The New York-based bank said in a statement, "One of our merchants made an error entering the transaction this morning. We found the error within minutes and fixed it."

Stock market experts say that the sharp fall in the UK and Ireland stock markets was due to the fact that the stock market was on holiday, and that losses could have increased if they had been open yesterday.

European stock markets plunged sharply yesterday due to a false order by a private bank trader.

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