I mentioned this in another thread, but I'll mention this here too so more people can learn how the process works with the NYSE. This issue was likely a glitch as they mention. The NYSE already has a process in place to halt trading when the market slides more than 5% or so, it's called "the curbs". When the curbs are in the market stops trading to allow things to settle down and to protect investors from losing everything across the board.
The curbs were used in the bond market crash of 1987, the dot com crash of 2000, the 9/11 crash in 2001, and the credit crisis crash in 2008. So, if China was the reason for the halt, the NYSE would have just said so. It doesn't help them to lie about things like this, they're in a business where trust and fairness is directly correlated with their success.
Just thought you should all know that there's nothing shady going on.
Topic: NYSE Mysteriously Halts All Trading (Read 460 times)
Bitcoin user not affected
You beat me to it by a matter of seconds...
Bitcoin user not affected
One wonders if contagion fears around the problems in China's stock market aren't the underlying motivation, the "glitch" timing is so convenient.
Quote
All trading on the New York Stock Exchange is halted Wednesday for unknown technical reasons – heaping yet another worry onto investors already rattled by global economic concerns.
Internal technical issues are being blamed for NYSE trading to shut down at 11:32 a.m. ET. The shutdown is also affecting the NYSE MKT exchange, a market for small companies.
Such outages are extremely rare in U.S. markets – but the halt brings up memories of the August 2013 “Flash Freeze” when trading on the Nasdaq was halted for hours. The NYSE is saying the problem is due to a problem with NYSE systems – not any sort of external attack.
Traders on the NYSE floor were standing around looking at blank trading terminals where no bid or offers were being exchanged. Trading in NYSE-listed stocks was still occurring on other exchanges, including the Nasdaq.
In a statement, the NYSE says: “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 U.S. Department of Homeland Security did not have an official statement about the computer outages. However, the agency said there was no immediate indication of a coordinated cyberattack. Securities and Exchange Commission Chair Mary Jo White, says in a statement, “We are in contact with NYSE and are closely monitoring the situation and trading in NYSE-listed stocks. While NYSE is working to resolve the situation, NYSE and NYSE MKT stocks continue to trade normally through other trading venues.”
http://www.usatoday.com/story/news/nation-now/2015/07/08/nyse-mysteriously-halts-all-trading/29861963/
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