Citigroup Inc. acknowledged that one of its trading desks was behind the sudden crash in Europe, which plunged shares across the continent after a sudden 8% drop in Swedish stocks.
“This morning one of our merchants made an error while entering a transaction,” New York-based City Bank said in an emailed statement. “Within minutes, we identified the error and corrected it.”
This story has been published without modification in text from a wire agency feed. Only the title has been changed.