An unexpected event with sudden and damaging impact on the markets. The term was popularised by finance professor and former Wall Street trader Nassim Nicholas Taleb.
Did you know?
Telephones and telex used for trading quotes were replaced in 1973, as Reuters introduced computer monitors.
Word of the day
"Front Running" - The illegal broker practice of promoting their own interests with foreknowledge of events that are likely to affect the market.
Always check if a broker is regulated before opening an account.