Search

The Day the Stock Market Died

It was a Monday. Asian markets opened, and not one financial product traded—the whole day. Farther west, frozen bids and offers produced multicolored flat-lined charts on every European screen. The American markets followed suit. For days, single names rarely dealt. Now ETF’s failed to trade on any exchange or dark pool. The financial community was abuzz. The next day, stock, bond, currencies, and commodity markets didn’t crash. Prices didn’t bob up and down. The underlying price of every asset remained exactly the same; options’ bids vanished. The financial world was staggered. On Wednesday, VIX and VIX-like products registered zero. While Main Street plodded along, Wall Street panicked. Mi

 

 

  • Twitter Classic
  • facebook