- published: 07 May 2010
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The May 6, 2010 Flash Crash also known as The Crash of 2:45, the 2010 Flash Crash or just simply, the Flash Crash, was a United States stock market crash on Thursday May 6, 2010 in which the Dow Jones Industrial Average plunged about 1000 points—or about nine percent—only to recover those losses within minutes. It was the second largest point swing, 1,010.14 points, and the biggest one-day point decline, 998.5 points, on an intraday basis in Dow Jones Industrial Average history.
On May 6, US stock markets opened down and trended down most of the day on worries about the debt crisis in Greece. At 2:42 pm, with the Dow Jones down more than 300 points for the day, the equity market began to fall rapidly, dropping more than 600 points in 5 minutes for an almost 1000 point loss on the day by 2:47 pm. Twenty minutes later, by 3:07 pm, the market had regained most of the 600 point drop.
After almost five months of investigations led by Gregg E. Berman, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint report dated September 30, 2010 and titled "Findings Regarding the Market Events of May 6, 2010" identifying the sequence of events leading to the Flash Crash.
Flash! Flash!
I heard your song on the radio
Who am I to resist heroes?
Saw your show in the neon lights glow
Who am I to escape your soul control?
May your love be untrue,
There's nothing I would not do for you Flash
Flash! Flash!
You rule the world with the rhytms of the night
Who am I to resist your time
Forevermore we'll remember the name of a boy without shame
It's you, it's you, it's you
Flash! Flash!
Flash, sing me to the stars
Hey Flash, sing me to the stars
Flash, sing me to the stars above
Hey Flash, sing me to the stars