Well, "computerized trading" covers a lot of things. I suspect a big part of the problem last Thursday was caused by broker algos automatically routing client o

Well, "computerized trading" covers a lot of things. I suspect a big part of the problem last Thursday was caused by broker algos automatically routing client orders to alternative venues when the NYSE market data feed delay gets too high, without concern for liquidity or price at those venues. (So much for that alleged fiduciary duty to find the NBBO). Normally not too much of a problem --- except when the market-makers pull their quotes, the stat-arb guys stop arbitraging, and all the other kinds of buy side "computerized trading" guys get out of the market and run away scared ...