The History of Circuit Breakers

By the end of the day, the Dow lost 22 and a half percent of its value in six and a half hours. The point of this story was that technology that portfolio insurance was an algorithm that was written by guys who had no idea how the market worked. And so as prices broke down the computer would say you have to sell more because in order to raise the cash is prices got weaker. You had to sell more. It was a self-fulfilling prophecy what it really brought to light in retrospect was how the human beings didn't go wait full stock is something wrong here. Right.