Not a good day to be Goldman Sachs. The Wall Street behemoth faces up to $100 million in damages after making several “erroneous” programming errors Tuesday, reports the Financial Times. The accident was allegedly caused by faulty software, which misread clients’ interest in option trading funds as actual orders. Some of the stock-option prices, as a result, dropped to as little as $1. An employee at Goldman confirmed the blunder but told Bloomberg that the losses would “not be material.”
Read it at FT
