– The author is a Reuters Breakingviews columnist. The opinions expressed are his own –
By Nicholas Paisner
LONDON, May 7 (Reuters Breakingviews) – The cancellation of share trades by a stock exchange has a third-world feel about it. But Thursday’s unfeasibly large swings in some U.S. stocks prompted NASDAQ to annul trades printed at seemingly silly prices. In one of the most frenzied sessions in living memory the equity market fell victim to a combination of fear, human error and — above all — technical malfunction.