U.S. Securities and Exchange Commission: 3 ideas worth knowing

3 ideas from U.S. Securities and Exchange Commission, each explained in a minute and credited to the original work. Free on Savvy.

Nearly $1 trillion vanished from the US stock market in 36 minutes
On 6 May 2010, the Dow Jones plunged almost 1,000 points and major stocks briefly traded for pennies before rebounding, all within about half an hour. Regulators eventually traced …
— U.S. Securities and Exchange Commission & Commodity Futures Trading Commission, 2010 flash crash
A respected Wall Street figure ran the largest fraud in financial history for decades
Bernie Madoff, a former chairman of NASDAQ, told investors he was earning them steady, unusually consistent returns, when in reality he was simply paying old investors with new inv…
— U.S. Securities and Exchange Commission, SEC Litigation Release No. 20834
Retail traders on Reddit cornered Wall Street's short sellers in 2021
Hedge funds had bet heavily that GameStop's stock would keep falling. Traders on Reddit's r/WallStreetBets bought shares and call options instead, driving the price up over 1,600% …
— U.S. Securities and Exchange Commission, Staff Report on Equity and Options Market Structure Conditions in Early 2021

Five ideas worth knowing, every week