The May 6, 2010 Flash Crash also referred to as The Crash of 2:45, the 2010 Flash Crash or just simply, the Flash Crash, was a stock market crash on May 6, 2010 involving U.S. corporate stocks, followed by an almost immediate rebound.
It was the second largest point swing, 1,010.14 points, and the biggest one-day point decline, 998.5 points, on an intraday basis in Dow Jones Industrial Average history.
U.S. money manager Waddell & Reed Financial Inc (WDR.N) said an internal analysis of trading activity indicates it was not the cause of the "flash crash" that briefly wiped out $1 trillion in market capital earlier this month.
"We did what our fund shareholders rightly would expect of us. There is no evidence to suggest that our trades disrupted the market on May 6," the company said in a letter to its financial advisers.
Reuters reported last week that regulators and officials at the Chicago Mercantile Exchange parent CME Group Inc (CME.O) (CME.O) have focused on Waddell's sale of 75,000 e-mini contracts as at least "superficially" anomalous activity.