Citi's London Trading Desk Behind European 'Flash Crash'

The video discusses a flash crash in European markets caused by a significant transaction error. The error, linked to computerized trading, led to an 8% drop in the OMX index, causing over 300 billion in losses. Despite the initial decline being reduced to 2% by the end of trading, the incident raised concerns about monetary and reputational damage to the involved parties. The NASDAQ decided not to cancel any trades, and City took responsibility for the error, indicating further discussions on the losses are expected.

What was the primary cause of the significant market drop mentioned in the text?

What was the initial percentage drop in the OMX index?

How much in losses was caused at the low point of the market drop?

What are the potential consequences of the trading error mentioned in the text?

What did NASDAQ decide regarding the trades made on the Nordic markets?