If SVB finance groupobsessed Silicon Valley Bank collapsed On March 10, it sparked fear that resonated throughout the financial sector.

In a recent interview with Business Insiders, Peter Tuchmana veteran trader with some 38 years experience on the New York Stock Exchange recounted the chaos that ensued.

What happened: Tuchman, who describes the stock market as the “delta of all information” and the “ultimate pricing mechanism” for world markets, told the publication that investors and news outlets called him more often than usual on the morning of March 10. Some of the questions he was asked by hedge funds, large institutions, high net worth individuals, investors and clients included:

• “What’s up?”
• “How much is for sale?”
• “How much to buy?”
• “Where are we?”

“It’s important that in the world of liquidity and volatility, there is a human at the point of execution making decisions, not a machine, not a robot, not an algo,” said Tuchman.

Also read: How to survive a stock market crash

Volatility spikes: Tuchman also underscored the extreme volatility of the markets in recent years.

“Things that could last generations can now happen between lunch and coffee breaks,” he told Business Insider. “We can be in a bear market by 11 a.m. and by 3 a.m. we’re in a bull market.”

On the day the SVB collapsed, Tuchman — who predicted the 1987 stock market crash, the 2000 dot-com bubble burst, the 2008 financial crisis, and the COVID-19 Clearance Sale of 2020 – said he didn’t eat lunch at all. He told the publication that he had an inkling that something serious was about to happen when several stocks simultaneously went public. This trading pause, known as the “limit up, limit down” mechanism, gave everyone a chance to decide what they wanted to do, since “nobody benefits when stocks go up 30 points and down 40 points,” he said dealer.

“There are…