Five-Minute ‘Flash Crash’ Hits Nordic Equity Markets

Market participants are left wondering why the OMX Stockholm 30 Index fell 8% in just five minutes.

By Jonas Ekblom, Jan-Patrick Barnert & Christopher Jungstedt | May 02, 2022 at 10:30 AM

A sudden selloff in European stock markets just before 10 a.m. CET on Monday was fueled by a “flash crash” in the Nordic region, with traders and fund managers pointing toward a potential portfolio trade error.

The OMX Stockholm 30 Index slumped as much as 8 percent in just five minutes before recovering most of the losses shortly after. The index was trading 1.1 percent lower as of 1 p.m. CET, roughly in line with a dip in broader markets.

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