Yesterday was similar to the flash crash of 2010, except this time liquidity was much worse throughout the entire day, with a paralyzed market which was the direct result of countless distributed, isolated mini flash events, all of which precipitated the market's failure for the first 30 minutes of trading, illustrated by these stunning charts from Nanex: <a href="https://twitter.com/nanexllc" rel="nofollow">https://twitter.com/nanexllc</a><p>Of note in the WSJ article is the passage noting the extreme discrepancy in EFT prices and fair value as hedge funds sold off ETFs and market makers such as high speed traders and Wall Street firms refused to step in.