U.K. trader Navinder Sarao, who faces a U.S. extradition hearing later this month, allegedly worked with a customized version of software known as the “matrix” in a deliberate attempt to “spoof” markets, according to a U.S. court filing.
U.S. stocks fell Friday following a U.S. jobs report that missed expectations, but which many investors saw as strong enough for the U.S. Federal Reserve to possibly raise short-term interest rates later this month.
At the height of the Aug. 24 market volatility, executives at Bank of New York Mellon got the news they wanted to hear: A glitch affecting a key system was likely to be fixed soon. But the problem was far from over.
The dollar pared losses against the euro Friday morning, after U.S. government data showed the unemployment rate fell in August, bolstering the case for the Federal Reserve to lift interest rates in coming months.