A technical glitch forced the New York Stock Exchange to suspend trading for more than three hours on Wednesday in the biggest outage to strike a US financial market in nearly two years. This has unnerved investors already rattled by the meltdown in Chinese stocks and the Greek debt crisis.
The exchange, a unit of Intercontinental Exchange Inc, said the halt, which occurred shortly after 11:30 am (local time) and lasted until 3:10 pm, was not the result of a cyberattack.
Other exchanges were trading normally.
Reactions to the Halt
It’s not a good day, and I don’t feel good for our customers who are having to deal with the fallout.
– Thomas Farley, NYSE President to CNBC
If you don’t have all the orders on that marketplace on the close, the pricing on the close would be definitely not accurate.
– Peter Costa, Empire Executions Inc President
This is one of the rare cases where the fragmented markets we live in actually serve a purpose. If this happened at (the London Stock Exchange), you would just be sitting staring at a blank screen.
– Dave Nadig, Director of exchange-traded funds at FactSet Research Systems.
The US market was down more than 1% on Wednesday, as investors continue to focus on turmoil in China and Greece.
(With inputs from Reuters)
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