The Federal Bureau of Investigation said Navinder Singh Sarao, 36, was arrested Tuesday in the U.

Prosecutors say Sarao used illegal trading techniques that contributed to an abrupt stock market crash on May 6,when the Dow Jones industrial average fell points in a matter of minutes before bouncing back. The episode raised concerns about the underlying structure of the stock market and highlighted the dangers of so-called computer generated high-frequency trading.

Wall Street responds to Michael Lewis' 'Flash Boys'. This created the appearance of heavy supply in the market and drove prices down.

Sarao allegedly canceled most of the orders before they were executed. Prosecutors say Sarao then profited when the market fell and also when it rebounded by buying and selling futures contracts.

Bears waving red flags about stocks.

The 'flash crash': how it unfolded | Business | The Guardian

Sarao traded primarily through his own company, Nav Sarao Futures Limited, on the Chicago Mercantile Exchange. Aitan Goelman, director of enforcement at the CFTC, said the "actions make clear that the CFTC, working with its partners on the criminal side, will find and prosecute manipulators of U. When was the stock market flash crash program sparked May 'flash crash'. An earlier version of this report incorrectly stated Navinder Singh Sarao's age as Start your day right with the latest news driving global markets, from major stock movers and key economic headlines to important events on the calendar.

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Flash Crash: Could it happen again? - May. 6,

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Flash Crash: Definition, Examples, Causes

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