Times of Israel
August 25, 2013
A typing error caused the value of one of Israel’s largest companies to instantly drop over 99% in value Sunday, dragging the Tel Aviv stock exchange down several points before the mistake was discovered and fixed.
The Israel Corporation saw its value plummet by 99.88% in a matter of minutes around noon on Sunday, bringing the TA-25 index down by 2.5% and triggering an automatic fail safe that shut down trading for a short time.
The catastrophic mistake was apparently caused during a transaction by a trader who wanted to sell shares in another company but accidentally entered Israel Corp. shares instead, Globes reported.
This article was posted: Sunday, August 25, 2013 at 12:43 pm