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The $315 billion flash drop in European markets, according to Citi, was caused by a trader’s miscalculation.

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The 5 billion flash drop in European markets, according to Citi, was caused by a trader’s miscalculation.

Citigroup Inc. said its London trading desk was responsible for a flash crash in Europe that sent stocks tumbling across the continent after a sudden 8% drop in Swedish stocks.

“One of our traders made an error when inputting a transaction this morning,” the New York-based bank said in an emailed statement late Monday. “Within minutes, we had identified and corrected the error.”

According to a person familiar with the situation who asked not to be identified because he or she was discussing non-public information, Citigroup is in talks with regulators and exchanges about the incident.

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A five-minute selloff in the OMX Stockholm 30 Index wreaked havoc on bourses from Paris to Warsaw, knocking the main European index down by as much as 3% and wiping out 300 billion euros ($315 billion) at one point.

Nasdaq Stockholm’s spokesman said the brief drop wasn’t due to a technical glitch on the exchange’s part. “Our first priority was to rule out any technical problems with our systems, and our second priority was to rule out any external attacks.” Nasdaq Stockholm spokesman David Augustsson said, “We have now excluded both.”

“It is very clear to us that a very significant transaction made by a market participant is the cause of this market move,” he said.

The OMX Stockholm 30 Index fell 1.9 percent, roughly in line with European stock markets. It had dropped as much as 8% in just five minutes before quickly recouping most of its losses.

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Citi may suffer financial and reputational harm as a result of the error, as Nasdaq has stated that it will not cancel any trades made on the Nordic markets.

Despite safeguards, equity markets can be very sensitive to erroneous trades, according to Joakim Bornold, savings economist at Soderberg & Partners.

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Following Guneet Monga, Priyanka Chopra serves as executive producer for the Oscar-nominated short film Anuja:”Inspiring Move: Following Guneet Monga, Priyanka Chopra Serves as Executive Producer for the Oscar-Nominated Short Film Anuja: ‘Very Proud'”

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Following Guneet Monga, Priyanka Chopra serves as executive producer for the Oscar-nominated short film Anuja:”Inspiring Move: Following Guneet Monga, Priyanka Chopra Serves as Executive Producer for the Oscar-Nominated Short Film Anuja: ‘Very Proud'”

Priyanka Chopra is extremely happy as she has come on board as an executive producer for Academy Award-shortlisted film Anuja, also backed by Guneet Monga.
Global star Priyanka Chopra is extremely happy as she has come on board as an executive producer for the Oscar-shortlisted film Anuja. Variety shared this update.

Anuja centers on the nine-year-old title character, who works in a back-alley garment factory with her older sister Palak. The narrative follows the young protagonist as she faces a decision that will impact both her future and her family.

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On being associated with the film, Priyanka said in a statement, “This beautiful film shines a spotlight on a subject that affects millions of children around the world, who are faced with the impossible decision between a future they cannot yet see and the immediate realities of their present.”

She said, “Anuja is a poignant, thought-provoking piece that makes us reflect deeply on the power of choices and how they shape the course of our lives. I am immensely proud to be associated with such a phenomenal and impactful project.”

The film was produced in collaboration with the Salaam Baalak Trust (SBT), a non-profit founded by Mira Nair’s family supporting street and working children, alongside Shine Global.

known for Academy Award-winning films War/Dance (2007) and Inocente (2012) – and Krushan Naik Films. Mindy Kaling is one of the producers on the film. Oscar winner Guneet Monga Kapoor has also boarded Anuja as a producer.

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This could be Monga’s third nomination at the Oscars. Her earlier projects, The Elephant Whisperers and Period: End of Sentence, won Oscars, bringing glory to Indian cinema.

A Story Close to the Heart

Anuja is a poignant tale about resilience, identity, and empowerment, centered around a young girl navigating societal challenges in her quest for self-discovery. Directed by a rising filmmaker, the short film has struck a chord with audiences and critics alike, making waves at various film festivals before earning its nomination for the Academy Awards.

Priyanka Chopra’s Legacy as a Producer

With Anuja, Priyanka continues her mission to spotlight underrepresented voices and meaningful narratives. She shared her admiration for the cast and crew of the film, saying, “It’s a collaborative effort, and every person involved in Anuja has poured their heart into it. I’m honored to be part of this journey.”

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Following Guneet Monga’s Footsteps

Priyanka’s move comes after Guneet Monga made history with The Elephant Whisperers, which won the Oscar for Best Documentary Short. Guneet’s success set a precedent for Indian filmmakers and producers, proving that stories rooted in Indian culture and values could resonate with a global audience. Priyanka’s involvement in Anuja further solidifies the growing presence of Indian creators on the international stage.

Critical and Audience Acclaim

Since its debut, Anuja has garnered widespread acclaim for its emotional depth and nuanced performances. Critics have praised its ability to tackle complex themes with sensitivity and authenticity. The film has already won several awards at international film festivals, further boosting its chances at the Oscars.

A Beacon for Future Collaborations

Priyanka’s involvement in Anuja is more than just a milestone for her career—it’s a beacon for future collaborations between Indian and international filmmakers. By lending her voice and resources to projects like this, she is creating opportunities for Indian talent to shine on a global scale.

As the Oscars approach, anticipation for Anuja continues to build. Whether it takes home the coveted trophy or not, the film’s nomination is a testament to the power of storytelling and the importance of representation.

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