NYSE temporarily suspends trading due to technical glitch

Published July 8, 2015
This June 17, 2015 photo shows Traders as they work at the main trading floor on the New York Stock Exchange.– AFP/File
This June 17, 2015 photo shows Traders as they work at the main trading floor on the New York Stock Exchange.– AFP/File

NEW YORK: Trading in all securities were halted on the New York Stock Exchange on Wednesday following earlier reports of technical difficulties, although NYSE-listed issues were still trading on other exchanges.

The outage comes on the same day as United Airlines grounded planes at US airports for an hour due to a computer glitch. The website for the Wall Street Journal newspaper was also suffering intermittent glitches.

After the halt, US stocks extended their losses, but in low volumes, with the S&P 500 hitting a session low and the Dow Jones Industrial Average and Nasdaq both falling more than 1 per cent.

“It's under control. We're just waiting for word. There's no sign of panic at all,” Mark Otto of J. Streicher & Co in New York said from the NYSE floor.

“We're waiting to hear word on if there's going to be a reopening, and when it is or any more details.” US markets were in the red even before the halt, which started just after 11:30 a.m. ET, as the slide in Chinese markets spurred concerns over its impact on global economic growth.

“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 reopen,” a spokeswoman for the exchange operator said in a statement.

The stocks continue to trade on other exchanges, such as those run by Nasdaq OMX Group and BATS Global Markets.

Meanwhile, the US Department of Homeland Security said there were “no signs of malicious activity at this time” relating to technical difficulties that halted trading at the New York Stock Exchange and an earlier technology problem at United Airlines that had grounded flights, CNN reported on Wednesday.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Business concerns
26 Apr, 2024

Business concerns

WITH the country confronting one of its gravest economic crises, it is time for the government and business ...
Musical chairs
26 Apr, 2024

Musical chairs

THE petitioners are quite helpless. Yet again, they are being expected to wait while the bench supposed to hear...
Global arms race
26 Apr, 2024

Global arms race

THE figure is staggering. According to the annual report of Sweden-based think tank Stockholm International Peace...
Digital growth
Updated 25 Apr, 2024

Digital growth

Democratising digital development will catalyse a rapid, if not immediate, improvement in human development indicators for the underserved segments of the Pakistani citizenry.
Nikah rights
25 Apr, 2024

Nikah rights

THE Supreme Court recently delivered a judgement championing the rights of women within a marriage. The ruling...
Campus crackdowns
25 Apr, 2024

Campus crackdowns

WHILE most Western governments have either been gladly facilitating Israel’s genocidal war in Gaza, or meekly...