Chip-Stock Bets Lose $52 Million in 10 Minutes During U.S. Market Closure
Edited by Steinar Vigdel Kolnes, Editor, Oslo
A sharp drop in round-the-clock chip-stock contracts cost traders $52 million in 10 minutes while U.S. equity markets were closed, CoinDesk reported.
Traders lost $52 million on chip-stock contracts during a sudden 10-minute selloff, according to CoinDesk.
The decline hit contracts that trade around the clock, allowing positions tied to semiconductor stocks to change hands outside regular U.S. market hours.
With Wall Street closed during the slide, traders lacked a live price from the underlying shares to use as a reference.
Source: CoinDesk
