What Is a Bloomberg Terminal and Why It Is Important

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What Is a Bloomberg Terminal and Why It Is Important
A Bloomberg terminal keyboard is seen in central London on April 17, 2015. Leon Neal/AFP/Getty Images
Valentin Schmid
Updated:

U.S. Stock markets are deep in the red this morning and some blame it on the technology sector.

No, not Apple, Facebook and Yahoo are to blame for the Nasdaq’s 1.5 percent drop but Bloomberg.

Michael Bloomberg, the former New York mayor? Not quite, but it’s his company which supplies hundreds of thousands of finance workers with software to conduct their business.

The software went dark for hours on end in Europe on April 17, causing massive confusion and preventing the UK government from selling 3 billion pounds worth of debt.

Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.