The Nasdaq Suspended Trading Today
The Nasdaq stock exchange suspended the trading of stocks today for companies like Apple, Microsoft, Google, and Tesla Motors due to a technology glitch. Nasdaq sent out the disruption alert at 12:14PM. Traders were told to halt trading in all stocks that were on the Nasdaq exchange until further notice. The issue was due to problems on the system where trades are recorded. The trading was also halted on Nasdaq options markets. The Nasdaq started to reopen stocks for trading again at 3PM. Almost every trading firm on Wall Street was trying to figure out what to do with their orders for Nasdaq-listed stocks.
One day before the incident took place, there as a total of $48 billion of trading in Nasdaq listed stocks, according to BATS Global Markets. One of the last times that the Nasdaq was hit with a technology glitch was during the Facebook IPO in May 2012. The Nasdaq had to pay a $10 million fine for that incident. The Nasdaq reworked their technology systems since then.
The Nasdaq stock was not trading on Thursday afternoon either.
[Source: NYT]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry