Algos Gone Wild: BABA "Glitch" Halted 7 Seconds, "100s Of Flash Crashes" Into Close

As business media pats itself on the back for the BABA IPO, proclaiming how it's the most important, and biggest IPO of all-time and on "the most efficient and transparent" exchange, perhaps it was just oversight that they forgot to mention BABA's 7-second halt "glitch" this afternoon as BABA trading exceeded 25% of all volume at some points. But that was minor compared to the utter clusterfuck that occurred as AAPL shares started to tumble and, as Nanex points out, 100s of individual stocks instantly flash-crashed and dashed by over 1% at 1550ET as the Russell rebalanced. These are your unrigged, transparent, efficient markets...

 

Via Nanex,

BABA Algo trading was massive...

 


 

BABA's Glitch...

 

 

Then as AAPL starts to slip... (BTW, WTF after-hours?)

 

100s of individual stocks explode instantly in flash-crashed and dashes...as the Russell rebalance hit. There's always extra volume on quadruple witching, but this time the systems were overloaded more than usual, leading to 100's of sudden moves.

 

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Do any of these charts look like the "efficient, transparent" markets we are told about every day?