Thursday, May 23, 2013

Market Meltdown! Utility Stocks Flash Crash At Opening Bell

From BI: This morning, when New York markets opened at 9:30 AM, shares of American Electric Power and Nextera Energy, two big electric utilities, briefly plunged 54% and 62% respectively. Both companies are in the S&P 500, and the flash crash brought the utilities sub-sector of the index down nearly 8% overall.

The massive moves resulted in a trading halt in shares of both companies.
Now, AEP is only down 1.5%, and NEE is down 1.8%.

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