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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Supreme Court rejects GOP push to cut absentee ballot deadline in N.C.

Photo: Robert Alexander/Getty Images

The Supreme Court on Wednesday rejected an attempt by conservatives to shorten North Carolina's deadline for mail-in ballots from nine to three days.

The big picture: This is the latest of a series of decisions over mail-in ballot deadlines in various states.

Hurricane Zeta makes landfall on Louisiana coast as Category 2 storm

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta made landfall along the southeastern coast of Louisiana as a Category 2 storm on Wednesday, bringing with it "life-threatening storm surge and strong winds," per the National Hurricane Center.

What's happening: The hurricane was producing maximum sustained winds of nearly 110 mph and stronger gusts.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Surge "is real" and not just caused by more tests, Trump's testing czar saysMask mandates help control rise in hospitalizations Some coronavirus survivors have "autoantibodies."
  3. Business: Surge is sinking consumer confidence Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" coronavirus wave France imposes lockdown as Macron warns of overwhelming second COVID wave Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed as COVID-19 surges MLB to investigate Dodgers player who joined celebration after positive COVID test.