TRADING ON THE NYSE HAS BEEN SUSPENDED
Today, all the trading on the New York Stock Exchange came to a complete halt. There are unexpected technical issues occurring, which brings more worry to investors. This comes as another blow to ever present and growing economic concerns around the world.
The shutdown began at 11:32 a.m. ET. Outages like these rarely occur in United States markets but these bring back the memories of the August 2013 “Flash Freeze” when trading was halted on the NASDAQ for hours.
Traders on the NYSE floor were standing and looking at blank trading screens and terminals where no offers or bids were being exchanged. Trading in New York Stock Exchange-listed stocks was still occurring on other exchanges, including the NASDAQ.
The NYSE has released in a statement that they are currently experiencing a technical issue that is being worked on to reach a resolution as quickly as possible.
The United States Department of Homeland Security does not currently have an official statement about the computer outages, but says that there is no indication of a coordinated cyberattack.
Keep in mind, trading in stocks listed on the New York Stock Exchange can still continue even when the NYSE is down. Most stocks trade on both the NYSE and the NSDAQ, along with other dedicated electronic networks. Only about 20 percent of the trading in NYSE listed stocks actually occur on the New York Stock Exchange. The majority of the volume has been moved to other exchanges in the past.
THIS COMES IN THE WAKE OF PROBLEMS IN GREECE AND CHINA
Currently, the Dow Jones industrial average is down 230 points to 17, 546. The NYSE technical outage comes as investors were already worried about the debt crisis in Greece and a drop in Chinese stocks.
There are 11 other stock exchanges available, says an official at Themis Trading. There is redundancy in the stock exchange system and stocks can continuously be traded fluidly.
TECHNICAL GLITCHES HAVE AFFECTED THE WALL STREET JOURNAL AND UNITED AIRLINES
This NYSE glitch occurs on the same day as a technical glitch affected United Airlines flights around the country for about two hours. The Wall Street Journal’s website has also stopped working after the NYSE suspended trading.
