S&P 500 dropped almost 9% on Thursday 6 May (birthday of Nehru) with fears that a trading error could be to blame. According to the FT, this led to the wipeout of billions from portfolios. BlueTrend ($10bn computer-driven fund) dropped 7.57% in 1st week of May, AHL $20bn dropped 3.3%. Renaissance fell 3.6%. Quant funds didn't actually do as bad as some long-short equity funds. $2.2bn Odey European fund fell 8.68%. added to "flash crash" is uncertainty over the EU's 750bn EUR bail-out package.
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