(Bloomberg) -- There are enough reasons to lie awake at night without having to worry that a single trader can take down the U.S. stock market from a London suburb, fund managers said.

U.S. authorities accused 36-year-old Navinder Singh Sarao on Tuesday of masterminding a five-year scheme to use phony orders in S&P 500 Index futures to manipulate prices and book $40 million in illicit profits. Along the way, he had a hand in erasing $862 billion from the U.S. stock market -- in a matter of minutes, they alleged.

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