By: Laura Meyers
Dear Ron Paul, it’s happening!
Actually that’s not confirmed, but something did happen.
Stocks stopped trading on the New York Stock Exchange’s platform in New York at about 11:32 a.m Eastern Time, this morning on July 8.
NYSE continued to change hands on other venues such as the NASDAQ Stock Market and Bats Global Markets.
Earlier in the day, the NYSE said it had a technical glitch that caused some traders to not receive confirmation of orders they had made or received for at least 221 different stocks including Macy’s and Kate Spade.
Trading was then halted in all shares altogether.
“We’re currently experiencing a technical issue that we’re working to resolve as quickly as possible. We will be providing further updates as soon as we can, and are doing our utmost to produce a swift resolution, communicate thoroughly and transparently, and ensure a timely and orderly market re-open,” the NYSE said.
The Department of Homeland Security told CNN that there is “no sign of malicious activity” at the NYSE or with an earlier outage experienced by United Airlines.
The Wall Street Journal’s homepage experienced a glitch around the same time the NYSE exchange halted. The publication was able to restore the homepage by 12:18 pm ET with the message “WSJ.com is having technical difficulties. The full site will return shortly.”
(1 of 3) The issue we are experiencing is an internal technical issue and is not the result of a cyber breach.
— NYSE (@NYSE) July 8, 2015
(2 of 3) We chose to suspend trading on NYSE to avoid problems arising from our technical issue.
— NYSE (@NYSE) July 8, 2015
(3 of 3) NYSE-listed securities continue to trade unaffected on other market centers.
— NYSE (@NYSE) July 8, 2015
“They’ve been having problems all day. They seemed to have rectified it earlier and then it happened again. Now they shut it all down,” said Joe Saluzzi, co-head of trading at Themis Trading and author of Broken Markets.
U.S. markets were already down the day before on Wednesday, and The Dow was down by 175 points at the time of the shutdown.
There has already been concern surrounding the security of investments because of the current sell-off in Chinese stocks and ongoing economic crisis in Greece.
“Given the global paradigm of what’s going on in the EU, Greece, China, this is the last thing that the U.S. equity markets need,” said Peter Kenny, chief market strategist at the Clear Pool Group, a financial technology firm and worked on the NYSE floor for 25 years.
Latest updates have announced the halt is not the result of a cyber breach and the error is an internal technical glitch.
