This is an early edition of the linkfest focused on yesterday’s “flash crash.”  We will back later today with a more nuanced linkfest.  In addition, you can always check in with AR Now for the latest links.

Where the market stands today.  (Bespoke, Calculated Risk)

Markets are once again nearing historically oversold levels.  (Trader Mike, Pragmatic Capitalism)

Theories on what happened abound.  (WSJ, Benzinga)

Some perspective on just how disorderly markets were yesterday.  (SMB Capital, EconomPic Data, FT Alphaville, Bespoke)

Fear is back.  (Gapper Blog, Pragmatic Capitalism, Felix Salmon)

Fingers point at high-frequency trading.  (FT Alphaville also Leigh Drogen)

Can we chalk yesterday’s down to algorithms gone wild?  (Reuters, NYTimes also Charts and Coffee)

What role did high-frequency traders play in the plunge?  (WSJ, Mean Street, Kid Dynamite)

The SEC is on the case.  (Bloomberg, WashingtonPost also FT Alphaville)

The Nasdaq is going to cancel certain trades.  In comparison the NYSE looks pretty good.  (Bloomberg, Bespoke)

Should the Nasdaq have canceled trades?  (Kid Dynamite, Rajiv Sethi, Infectious Greed)

When machines take over, panic ensues. (Daily Beast)

There is more at work here than just fat fingers.  The global financial system remains under stress.  (Floyd Norris, Randall Forsyth)

Occam’s Razor at work.  Maybe the market pulled back because it was overvalued?  (The Money Game)

Seven facts nobody wants to hear about yesterday’s market.  (Investing With Options)

Some stocks were up yesterday.  (24/7 Wall St.)

The MOVE index (Treasury volatility) spiked yesterday.  (BondSquawk)

Next time heed the rise in the VIX.  (Daily Options Report also VIX and More)

Holy 2008, high yield bonds and preferred stocks are tanking.  (Bespoke)

On the dangers of being short gamma.  (Options for Rookies, Hedge->

What the market plunge means for your portfolio.  (ROI, The Reformed Broker)

Volatile markets favor prepared traders.  (Hedge->

The financial web struggled to keep up during yesterday’s crash.  (TechCrunch)

Does market volatility affect the world of start-ups?  (A VC)

A market crash special with Howard.  (StockTwits TV)

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