Tag: stocks
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Toronto Skyline At Sunset 2
1DU9MxRhuGDNQLkj3jcwHf6xRa6HEwAKfY, 2015, 6 by 17, 6 x 17, 6by17, 6×17, architecture, background, bank, banking, bankruptcy, block, blue, bonds, building, business, Canada, Canadian, center, Center Island, Center Island Toronto, Center Island Toronto Ontario Canada, city, Cityscape, CN Tower, commercial, construction, contemporary, corporate, crisis, currency, debt, district, dollar, downtown, Duncan Rawlinson Photography, economy, estate, exchange, exterior, facade, finance, financial, glass, headquarters, high, investment, landmark, Landscape, lass, light, market, metropolis, modern, money, national, night, office, Ontario, perspective, Photo by Duncan Rawlinson, property, Real, reflection, Roof, save, savings, Sky, skyline, skyscraper, skyscrapersm, stocks, street, structure, sunset, symbol, Tall, top, Toronto, Toronto Skyline At Sunset, Toronto Skyline At Sunset 2, tourism, tower, Travel, Urban, view, Water, Waterfront, wealth, window
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Canadian Banks
1DxzJWu7wNt4CvcDsmuZpjUnVWqpHHsyXk, 2018, 5DSR, antenna, architecture, background, bank, banking, bankruptcy, bonds, business, Canada, Canadian, Canadian Banks, Canon, Canon EOS 5DSR, CIBC, CIBC building downtown toronto, Commerce Court, Commerce Court West, crisis, currency, debt, dollar, downtown, Downtown Toronto, Duncan Rawlinson, Duncan Rawlinson Photo, Duncan Rawlinson Photography, economy, exchange, finance, financial, glass, high, investment, market, money, national, office, Ontario, Photo by Duncan Rawlinson, save, savings, Scotiabank, Scotiabank Plaza, Shot With Canon EOS 5DSR, skyline, skyscraper, stocks, symbol, Tall, TD, td bank, TD Canada Trust Tower, Toronto, Toronto-2018, tower, Urban, view, wealth
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Engadget Post Drops Apple Market Cap by $4 Billion in 6 Minutes
Engadget posted some information about a supposed delay of Apple’s iPhone and almost immediately the floor fell out on Apple’s stock. Massive selling took the stock from $107.89 to $103.42 in six minutes. That means roughly $4 billion in market cap was erased in a few minutes from a single paragraph of a blog post! Of course it was quickly fixed and the stock bounced right back. I just thought it was interesting to see how quickly this kind of thing can happen.
[The original Engadget post (now edited) | Apple Stock on Google Finance]
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$1-trillion erased from the value of global equities on Tuesday
According to Bloomberg potential ‘overheating in China’ lead to about $1-trillion (USD) erased from the value of global equities on Tuesday! The worst one day sell off since 9/11. Wow.
I thought the moment when the computer algorithms started to kick in (around 2.59 pm) was particularly of interest. Many firms have orders queued up in case of downward trending so people don’t lose their shirt. Of course these orders probably trigger more programs to queue up even more orders.
Its fascinating to me that these computer algorithms (used by hedge funds to hide their activity) can have such a major effect on the behaviour of other computer algorithms! Not to mention what happens with computer glitches. I’m not sure how all that works but it was a fascinating day on the market.
Update:
Here is a graphic from the New York Times illustrates this:
New York Times backstory audio on this. Audio mirrored here.
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