By Sam Boughedda

A Citigroup (NYSE:) staffer’s fat-finger commerce might value the funding financial institution losses of $50 million, Bloomberg reported Thursday afternoon.

Final month, a Citigroup worker brought on a flash crash in European shares following a mistaken commerce.

In accordance with Bloomberg, citing individuals accustomed to the matter, Citigroup continues to be calculating the losses, and it might rise above $50 million.

“A dealer within the agency’s Delta One buying and selling unit in London was working from residence throughout a financial institution vacation on Might 2 when the particular person incorrectly added an additional zero to a commerce early in European market hours,” Bloomberg mentioned, quoting a supply.

The blunder resulted in a big sell-off throughout European equities, erasing 300 billion euros ($322 billion) at one level.

The worker who made the error is alleged to have been positioned on go away, with latest studies stating Citigroup is trying to overhaul their London buying and selling workforce linked to the error.