The afternoon of May 6, 2010 was among the strangest in economic history. Starting at 2:42 p.m. EDT, the Dow Jones stock index fell 600 points in just 6 minutes. Its nadir represented the deepest single-day decline in that market's 114-year history. By 3:07 p.m., the index had rebounded. The "flash crash," as it came to be known, was big, unexpected and scary - and a new study says flash events actually happen routinely, at speeds so fast they don't register on regular market records, with potentially troubling consequences for market stability.
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Source: http://feeds.gawker.com/~r/gizmodo/full/~3/E7mEvRT8T38/how-the-technology-behind-nanosecond-trading-could-make-markets-go-haywire
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