Photo: Xinhua/Wang Ying via Getty Images

About 85% of all stock trading has become automatic through machines, models or algorithms, "creating an unprecedented trading herd that moves in unison and is blazingly fast," The Wall Street Journal reports.

Why it matters: Computerized trading grew up "during the long bull run, and hasn’t until now been seriously tested by a prolonged downturn." Monday was the worst Christmas Eve for the Dow Jones Industrial Average in its history.

What they're saying: Computers are automatically buying and selling stock based on models. "Lately, they’re dumping stocks," traders and investors told the WSJ.

  • “Electronic traders are wreaking havoc in the markets," Leon Cooperman, founder of hedge fund Omega Advisors, told the WSJ.
  • “The speed and magnitude of the move probably are being exacerbated by the machines and model-driven trading,” Neal Berger, head of Eagle’s View Asset Management, told WSJ. “Human beings tend not to react this fast and violently.”

Go deeper: 2019 could be the worst year for the economy since '08

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 12,794,395 — Total deaths: 566,210 — Total recoveries — 7,033,187Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,278,946 — Total deaths: 135,066 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. States: Florida smashes single-day record for new coronavirus cases with over 15,000 — Miami-Dade mayor says "it won't be long" until county's hospitals reach capacity.
  4. Public health: Ex-FDA chief projects "apex" of South's coronavirus curve in 2-3 weeks — Coronavirus testing czar: Lockdowns in hotspots "should be on the table"
  5. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."

Lindsey Graham says he will ask Mueller to testify before Senate

Photo: Tasos Katopodis/Getty Images

Senate Judiciary Chairman Lindsey Graham (R-S.C.) tweeted Sunday that he will grant Democrats' request to call former special counsel Robert Mueller to testify before his committee.

The big picture: The announcement comes on the heels of Mueller publishing an op-ed in the Washington Post that defended the Russia investigation and conviction of Roger Stone, whose sentence was commuted by President Trump on Friday.

4 hours ago - Health

Florida smashes single-day record for new coronavirus cases

Data: Covid Tracking Project; Chart: Axios Visuals

Florida reported 15,299 confirmed coronavirus cases on Sunday — a new single-day record for any state, according to its health department.

The big picture: The figure shatters both Florida's previous record of 11,458 new cases and the single-state record of 11,694 set by California last week, according to AP. It also surpasses New York's daily peak of 11,571 new cases in April, and comes just a day after Disney World reopened in Orlando.