Wednesday, April 22, 2015

VIDEO: UK trader in court over U.S. 'flash crash'

(Reuters) All it took was a matter of minutes. Nearly 1 trillion dollars wiped off the Dow Jones Industrial Average in Wall Street's infamous flash crash. Almost 5 years on, US regulators believe a British high-frequency trader was largely to blame. Arriving at court in london, Navinder Singh Sarao is accused of manipulating the market. He opposed his extradition to the US, where he's also charged with wire and commodities fraud. It's alleged he used an automated program to generate large sell orders.

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