Citi's Fat-Finger Trade Seen Costing Bank More Than $50 Million

The video discusses a significant trading error at Citibank, known as a 'fat finger' incident, which led to a massive sell-off affecting markets from Paris to Warsaw. The error wiped out $300 billion before a recovery. Citibank is in talks with regulators to understand the cause and mitigate future risks. The video also recounts a similar past incident at Bank of America, highlighting the potential for human error in trading environments.

What does the term 'fat finger' refer to in the context of this incident?

How did the incident affect the financial markets according to the text?