India 8-Second Stock Rout Brings Trading Paranoia to Mumbai
This article is for subscribers only.
The plunge and rebound in Indian stocks that pushed the S&P CNX Nifty Index down 16 percent in eight seconds underscored concern about financial markets.
Trading in the Nifty and some companies stopped for 15 minutes in Mumbai yesterday after the 50-stock gauge tumbled as much as 16 percent. A brokerage that mishandled trades for an institutional client was to blame, according to the National Stock Exchange of India.