Gold futures plunged more than $30 at 10:14 a.m. EST on Monday morning, before regaining nearly all of that drop within the same minute.
The swift move triggered a 10-second pause in trading, and many market participants said a single trading error was probably to blame.
“What has a tendency to happen if someone does a fat finger trade is that it triggers stops that people leave in,” said Matthew Hoverman, senior trader at Grafite Capital. “There is a high likelihood that that’s what happened today.”
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