Citigroup is facing a loss of at least £40million after one of its London bankers made a 'fat finger' mistake while working from home. The Wall Street giant has since put the employee on leave as it reviews the error, Bloomberg reported. Fat finger mistakes, caused by a trader hitting the wrong button, can be costly. When a large trade is placed, this can prompt other investors and automated systems to copy the move, thinking that someone has spotted something they haven't. This in turn causes prices to fall even further, creating a snowball effect.

Source: Daily Mail June 04, 2022 09:21 UTC