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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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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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