[Opinion: Algorithmic and Programmatic Selling Causes a Sharp Plunge in US Stocks; Opening Liquidity Shows "Extremely Clearance Characteristics"] BlockBeats reports that on November 6th, US stocks suffered a bloodbath overnight, with widespread market despair. Wall Street traders commented on today's plunge, stating that algorithmic and programmatic selling exacerbated market volatility. A Goldman Sachs equity trader bluntly stated that today's market was "extremely painful." John Flood, a top Goldman Sachs trader, pointed out that long positions are once again stuck in a stalemate, with hedge funds rapidly dumping their massive cloud computing positions bought during yesterday's rebound, "and we haven't seen any buyers entering the market to take over yet." Several senior traders described the opening liquidity situation in US stocks as "extremely clearance characteristics," pointing out that algorithmic and CTA fund programmatic selling exacerbated the initial sharp decline due to a lack of buying interest.