Skip to content
More from
Bloomberg
Fixed Income
relates to Emerging Markets Retreat Amid Global Growth Concerns: EM Review
relates to Fed Will Probably Change Its Approach to Inflation, Dudley Says relates to Pemex Assistance Plan Fails to Impress Bondholders relates to Hedge Funds See Windfall From Bets on Puerto Rico After Storm relates to ECB Moves Closer to Global Dovish Shift as Coeure Mulls Loans relates to Fed’s Clarida Watches a Price Gauge That Just Tied a Record Low relates to Surprise! Refinancing Complex Debt Instruments Is Hard relates to European Shares Steady as Trade Talks Wind Up relates to Foreigners Dump Canadian Bonds at Record Levels relates to Coeure Says Boosting Euro's Global Role Could Help ECB Policy relates to Emerging Markets Retreat Amid Global Growth Concerns: EM Review
relates to Fed Will Probably Change Its Approach to Inflation, Dudley Says relates to Pemex Assistance Plan Fails to Impress Bondholders relates to Hedge Funds See Windfall From Bets on Puerto Rico After Storm relates to ECB Moves Closer to Global Dovish Shift as Coeure Mulls Loans relates to Fed’s Clarida Watches a Price Gauge That Just Tied a Record Low relates to Surprise! Refinancing Complex Debt Instruments Is Hard relates to European Shares Steady as Trade Talks Wind Up relates to Foreigners Dump Canadian Bonds at Record Levels relates to Coeure Says Boosting Euro's Global Role Could Help ECB Policy relates to Emerging Markets Retreat Amid Global Growth Concerns: EM Review
relates to Fed Will Probably Change Its Approach to Inflation, Dudley Says relates to Pemex Assistance Plan Fails to Impress Bondholders relates to Hedge Funds See Windfall From Bets on Puerto Rico After Storm relates to ECB Moves Closer to Global Dovish Shift as Coeure Mulls Loans relates to Fed’s Clarida Watches a Price Gauge That Just Tied a Record Low relates to Surprise! Refinancing Complex Debt Instruments Is Hard relates to European Shares Steady as Trade Talks Wind Up relates to Foreigners Dump Canadian Bonds at Record Levels relates to Coeure Says Boosting Euro's Global Role Could Help ECB Policy
markets

Sell Orders in Stocks Surge to Highest Level Since ‘Flash Crash’

Sell Orders in Stocks Surge to Highest Level Since ‘Flash Crash’

China Concerns Are Top Reason for Selloff, B Riley FBR's Hogan Says

Investors rushed to unload U.S. stocks in afternoon trading, with sell orders briefly hitting the highest since a liquidity-driven selloff in May 2010.

Almost 1,800 stocks traded on a downtick versus those trading on an uptick on the New York Stock Exchange around 2:45 p.m. in New York. The spike in selling coincided with a slump in the S&P 500 Index.

NYSE Tick index briefly hit the lowest since 2010 flash crash

The S&P 500 is mired in this year’s third major retreat as higher bond yields, trade tensions with China and concern over third-quarter earnings all converge to threaten the bull market.

The downtick spike “suggests either outright panic on the part of investors or (more likely) a series of automated program trades,” said Jason Goepfert, president of Sundial Capital Research Inc.

S&P 500 e-mini futures fell to as low as 2,712 before recovering. The most trading volume over the last 200 days was at the level of 2,730, according to Jonathan Krinsky, Bay Crest Partners technical analyst.

“We never know if that was ‘the’ low, but certainly with that type of TICK into support, it can signal ‘a’ low,” he wrote in a note.