Citi's fat-finger trade could cost bank more than $50 million - Bloomberg Law
Reuters
Published Jun 02, 2022 04:13PM ET
(Reuters) - Citigroup Inc (NYSE:C) could record losses of more than $50 million after a London-based employee's fat-finger trade caused a flash crash in European stocks last month, Bloomberg Law reported on Thursday, citing people familiar with the matter.
The sudden fall in shares, driven by a brief crash in Nordic markets, was caused by a single sell order trade by the bank, Reuters reported last month, citing people familiar with the matter.
The bank is still tallying losses from the mistaken trade and the final figure could grow, Bloomberg Law reported.
A Citigroup spokesperson declined to comment when contacted by Reuters.
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Written By: Reuters
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