Photo: Rambo 2 via YouTube
During the beginning of yesterday’s trading session there were some wild swings in about 150 different NYSE-listed stocks caused by a trading glitch at Knight Capital’s market-making desk.Knight released a statement today that the company faces a $440 million pre-tax loss following the glitch.
Shares of Knight were hammered and were last down 63%.
A senior level exec at Knight characterised the view from within the firm for Fox Business:
Traders at Knight Capital are already making calls for jobs elsewhere as the stock hits multi-decade lows, Gasparino reported. Knight employed a 1,418 people as of the end of the second quarter.
“It’s a war zone here; bullets are flying. I’m just trying to survive,” a senior Knight executive told FOX Business.