From The Big Picture:
Jim McTague explains why this is the unhappy anniversary of the flash crash:
From Jan. 1 through April 30, 2010, investors put $668 million into stock funds, says the Investment Company Institute, the mutual-fund trade group. By the end of 2010, they had withdrawn about $96 billion. In 2011, there were $135 billion in outflows. This year, there have been more than $15 billion in outflows.
The hazards posed by the new robots were detected not by the regulators but by…