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A $41 Billion Flash Crash in Singapore Gives Traders Fright

  • Jardine Matheson quickly recovered after 83% plunge Thursday
  • Exchange says trading was orderly, no sign of manipulation
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What was shaping up to be a ho-hum market open in Singapore suddenly became the most dramatic session in years, with a haphazard spree of sell orders causing a $41 billion crash in the city’s biggest stock on Thursday.

Jardine Matheson Holdings Ltd., the flagship investment firm of a 186-year-old conglomerate that hadn’t posted a double-digit stock decline since April 2009, plunged 83 percent in pre-market trading. While the drop reversed almost as quickly as it happened, some 167,500 shares changed hands at prices less than a quarter of the previous day’s close.