A “flash crash” that can send the overall average of blue chip stocks down 1,000 points in 10 minutes, and where individual stocks can lose more than 90 percent of their value in 10 seconds, remains a looming risk to capital markets, according to the chief financial officer of Accenture, the large global consulting firm.

"Based on what we've all witnessed in the markets that day and since then, there is every reason to expect that this can happen again,’’ said chief financial officer Pamela J. Craig, in an appearance before the Joint Advisory Committee of the Securities and Exchange Commission and the Commodity Futures Trading Commission on market events Wednesday morning.

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