The Role of Machines and Programmed Trading

Colin Read
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Colin Read: SUNY College

Chapter 22 in The Fear Factor, 2009, pp 179-183 from Palgrave Macmillan

Abstract: Abstract World financial markets also went through a gut-wrenching financial decline in October of 1987. Sometimes called Black Monday, stocks began to trade steeply downward, first in Asian markets, then in Europe and Africa, and finally in the Americas. When trading was over at the end of that day, New Zealand’s market fell by almost 60%; Australia’s and Hong Kong’s fell off by more than 40%, and markets in Europe, Canada, and the United States were down by between 20% and 35%. The drop in the Dow Jones Industrial Average at 22.6%, represents the largest plunge in its history. Some argue that it was technology that led the markets down.

Keywords: Interest Rate; Market Volatility; Cocaine Abuse; Trade Deficit; Coordination Failure (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-25086-4_23

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DOI: 10.1057/9780230250864_23

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