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Backlash after “Black Monday”? None! At least for Credit Suisse stock. It fell 3.5 percent again on Tuesday morning after trading resumed in Zurich. The stock market pulls the string – suspending trading of CS shares for a short time, as it did on Monday.
This happens when a stock suddenly drops more than 1.5 percent below the last traded price. Trading on this stock is then suspended for five minutes. The goal is to prevent the so-called flash crash. This means that the value of the shares has plunged into the abyss. Within these five minutes, market participants have time to agree on a realistic price again.
At the start of trading, UBS shares were down only 0.3 percent. CS (-9.5 percent) and UBS (-8 percent) were disastrously out of business yesterday.
+++ Update follows +++
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
