It’s a nightmare on Wall Street. This morning, the New York Stock Exchange was unexpectedly halted, with power outages starting at 11:32 a.m. So far, there is no culprit to blame– but could this shutdown really be a coincidence with the current debt crisis in Greece and stock meltdown in China?
Internal technical issues are being blamed for NYSE trading to shut down. 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.
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.”
This is exactly why we’re committed to self-reliance. Online threats from hackers and foreign enemies are real, and are always unexpected. It’s imperative to have a plan for emergencies like this— physical dangers like fires and burglars aren’t the only threats to be aware of!
The outage at the NYSE comes curiously the same day when a technical glitch halted United Airlines flights around the country for roughly two hours. The Wall Street Journal’s Web site also stopped working after the NYSE halted trading.
Another coincidence? Stay tuned.