This morning, all United Airlines flights were grounded thanks to a “degraded router” that gave out just as most of the airline’s flights were preparing to take off. And now, faulty technology (apparently) strikes once again as trading has been halted at the NYSE due to a “technical glitch” affecting all symbols.
The latest from the NYSE is that all symbols are not trading and all open orders are now canceled.
“Additional information will follow as soon as possible,” the NYSE’s website says.
According to CNBC, the halt started at 11:32 a.m. ET and was triggered by “technical issues.”
“The issue we are experiencing is an internal technical issue and is not the result of a cyber breach,” NYSE tweeted out about an hour after the halt. “We chose to suspend trading on NYSE to avoid problems arising from our technical issue. NYSE-listed securities continue to trade unaffected on other market centers.
There’s a tendency to connect the two (and loop in the WSJ’s suspicious disappearance earlier this morning), but Bloomberg sources and Business Insider experts seem convinced the outage is not from a cyber attack. The NASDAQ, which suffered a blackout in 2013, is still trading. That outage was from a “massive fluctuating in trading volume” according to Business Insider. The best guess the officials can provide to BI is that the massive failure stems from an unanticipated software update or systems upgrade, though the systems are functioning similar to the way they would under a denial of service (DDOS) attack.
The Chinese stock market is slogging through a complete collapse and their economy seems to be hitting a bit of a snag. That’s what seems to be driving the idea that China might be behind our stock market halt, if only because putting a stop to trading in the US would keep companies that have suspended trading in China from making any significant moves in the US. For now, though, that seems a bit…out there.
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