New York Stock Exchange Goes Bumpy Today, After a Software Glitch

New York Stock ExchangeThe share market is the center for millions of investors and businesses that glue their eyes over it day-and-night. The stock markets have a bigger impact and have the ability to shake the economy; may it be for scaling greater amount of profits, or the reason behind declining economy.

Director of floor operations at the NYSE, Art Cashin revealed that the New York Stock Exchange has halted its all trades, as it faced a technical fault with connectivity for a shorter period of time. The sources said that the shutdown has prompted the fear of a cyber breach, and is linked with United Airlines flights that have grounded this morning. Soon, the department of Homeland Security issued a statement that there were no indication that the outrage was linked or that a cyber breach was behind the current scenario.

The top-line details outlined by the company stated that this is not the outcome of a cyber attack. It halted all trade exchange before noon local time (around 11:32 am ET). All the open orders listed on trading index will be aborted. The incident occurs after United Airlines experienced a disruption to its computer system, yet there was no sign that the two events were linked with each other.

But, so far the details on these current affairs have linked to rather mundane causes. The NYSE has been down for around 45 minutes at this point. Meanwhile, the NYSE’s rival NASDAQ continues to operate smoothly, and is listing NYSE’s stock listed companies.

Technical faults are not inconceivable in the US stock exchanging. In August 2013, electronic NASDAQ trade declined. Also, broadly there have been other trading bugs, like, in May, 2010 flash crash incident. A year ago, a technical glitch stopped commodities and goods trading the CME. Indeed, even the most liquid and profoundly traded market on the planet – the US Treasurys business sector, persevered through something of a trading glitch last October.

In any case, such trading blackouts have done much in recent years to dissolve trust in the US stock markets, particularly from retail financial investors. Today’s unplanned halt of NYSE’s trading is fairly reminiscent of popular flash crash event. It came in the midst of jittery exchanging brought on by the then beginning Greek debt crises.

Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

Leave a Reply

Your email address will not be published.

Recent Posts

Cryptocurrency Market Updates: Bitcoin Could Hit $500,000 Per Coin

Cryptocurrency Market Updates: Bitcoin Could Hit $500,000 Per Coin

On March 15, Novogratz went so far as to predict that the Bitcoin future price will reach half a million dollars per coin by 2027. He made this statement at the Bitcoin 2022 confer
3 hours ago
Klarna CEO Uses Pre-Recorded Message For Laying Off Employees

Klarna CEO Uses Pre-Recorded Message For Laying Off Employees

Managers and HR personnel must be coached on how to compassionately convey the message as it is one of the most difficult conversations an individual can have. Open and honest comm
5 hours ago
China Might No Longer Be An Apple Manufacturing Country

China Might No Longer Be An Apple Manufacturing Country

The iPad manufacturer has previously sought to remove China as the main Apple manufacturing country. Trade tensions and a strict Covid-19 policy has previously resulted in supply c
1 day ago
D.C. Refuses to Let Zuckerberg Wash His Hands Off Cambridge Analytica

D.C. Refuses to Let Zuckerberg Wash His Hands Off Cambridge Analytica

In the same year, Racine had sued Meta, then known as Facebook, for failing to protect user privacy and deceiving them about how much data is collected and how it was used. The Att
1 day ago
Electronic Arts Shops Around For a Buyer

Electronic Arts Shops Around For a Buyer

However, Byers sheds light on the most recent Electronic Arts news saying, “Several sources familiar with these talks say EA has been persistent in pursuing a sale, and has only
2 days ago
EV Adoption Rates Helps Bring Down Global Oil Demand

EV Adoption Rates Helps Bring Down Global Oil Demand

Although electric car adoption rates are heartening, it is the electric two- and three-wheeler segment that has brought about a major shift in demand for oil. Especially popular i
2 days ago