The halt in trading on the New York Stock Exchange hasn’t stopped trading of NYSE-listed shares, which continue to change hands on other exchanges.
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An earlier glitch happened on the NYSE, but it was cleared before the 9:30 a.m. ET market opening, Market Watch reported.
Thomas Farley, president of the NYSE Group, told CNBC the technical issue appeared to be a “configuration problem” but he said it was “premature” to discuss the specific cause.
The sell-off in China came despite measures announced by the Chinese government Wednesday to halt the stock slide including telling state-owned companies to buy shares, raising the amount of equities insurance companies can hold and promising more credit to finance trading.
Wall Street maintained its losses after the release of minutes of a June Federal Reserve policy meeting in which officials cited Greece’s debt crisis as a serious concern and said they needed to see more signs of a strengthening U.S. economy before raising interest rates.
Trading was dramatically suspending for thousands of Wall Street stocks on Wednesday with technical reasons being cited as the cause.
However, many traders said that it did not matter that the NYSE was down. It also set aside $62 million in the first quarter to reimburse investors who lost money due to technical problems.
White House Press Secretary Josh Earnest said there was nothing to indicate “malicious actors” were involved in the computer glitch that suspended the New York Stock Exchange on Wednesday. All the NYSE-listed stocks opened without incident.
Almost all USA trading is done electronically, and the NYSE outage again raised questions about the technology at exchanges after major glitches in recent years.
If you were a banker trying to catch a United flight and get updates on the New York Stock Exchange from the Journal this morning, your best bet was probably to head to the nearest airport bar. “Additional information will follow as soon as possible”, the NYSE said in a statement. That means investors can still trade, just not on the NYSE.
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The exchange also stated on its page that NYSE Arca and NYSE Amex/Arca Options have not been affected by suspension of NYSE. Germany’s DAX gained 0.5 percent, and France’s CAC 40 rose 0.7 percent. The euro rose to $1.1083, while the dollar fell to 120.78 yen. Brent crude rose 81 cents to $57.66 a barrel in London.
