Flash Surge in World’s Biggest ETF Linked to ‘Outlandish’ Trades
- Intermarket sweep orders powered sudden spike in SPY on Monday
- Thin liquidity, human error are suspects in single-second jump
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At 1:25 p.m. in New York on Monday, something unusual happened to the world’s largest exchange-traded fund.
After opening at $364.97 per share and straying less than 0.9% in either direction for almost four hours of trading, the price suddenly rocketed.