The value of an Israeli company dropped by millions of pounds after a trader made a typo.
Israel Corporation, Israel’s largest holding company, formerly headed by London-based Idan Ofer, saw its value plummet by over 99 per cent minutes after the mishap last Sunday afternoon.
The trader, who is believed to be a Tel Aviv Stock Exchange (TASE) member, intended to sell shares of another company but typed in ‘Israel Corporation’ by mistake. Due to the disparity in prices, the third-largest company on the exchange saw its opening value fall from around £300 (NIS 1690) per share to £0.37 (NIS 2.10) per share, according to JPost.
The unnamed trader quickly cancelled the transaction.