Former European Central Bank President Jean-Claude Trichet said Friday he's concerned that volatility fanned by high-frequency trading has become the new reality.
"We are experiencing the new behavior of the highly interconnected global system," he said in a CNBC "Squawk Box" interview.
"Clearly, that is suggesting that we have to live now with much higher, high-frequency level of volatility," Trichet said. "I'm afraid that this is now part of the system due to globalization, due to the level of interconnectedness at the global level and due to the interaction of machines."
"Machines are certainly playing a very important part in the high-frequency volatility that we have observed," he added.
Markets across the globe have been taken for a ride this week, with the Dow Jones industrial average having traveled more than 10,000 points ahead of Friday's open amid global growth concerns.