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The Role of Machines and Programmed Trading

In: The Fear Factor

Author

Listed:
  • Colin Read

    (SUNY College)

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.

Suggested Citation

  • Colin Read, 2009. "The Role of Machines and Programmed Trading," Palgrave Macmillan Books, in: The Fear Factor, chapter 22, pages 179-183, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25086-4_23
    DOI: 10.1057/9780230250864_23
    as

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