NYSE Suspends Trading While Cyber-Tech Stocks Edge Up

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NYSE Suspends Trading While Cyber-Tech Stocks Edge Up
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UPDATE 3: NYSE is now open for trading after 3 hours and 38 minutes.

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The New York Stock Exchange (NYSE) has temporarily suspended trading on all stocks listed on the exchange. The halt follows a previously reported technical problem, which the NYSE said was fixed on its status page earlier this morning.

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People who are on the NYSE trading floor are reporting chaos:

Details on the NYSE’s trading suspension

Shortly after halting trading, a spokesperson for the NYSE issued this statement:

“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.”

Intercontinental Exchange runs the NYSE and 10 other stock exchanges. The NYSE will cancel all open orders on all the symbols on which trading was temporarily suspended because of the technical problems. Intercontinental Exchange said on its status page that the NYSE ARCA and NYSE AMEX/ ARCA options are not being affected by the issue and are still operating as usual.

Cyber-stocks on the move

The NYSE is the only exchange on which trading has been halted at this time, which means the tech-heavy NASDAQ is still open for business. We’re starting to see cyber-security stocks like Cyberark Software climb. Imperva also started to edge upward, as did AVG, FireEye, and Palo Alto Networks.

The issues at the NYSE appear to be much broader than initially thought, which is probably why cyber-security stocks are rallying. Earlier this morning, United Airlines’ system went down, and all of the airline’s flights were grounded. Around the same time the NYSE went down, The Wall Street Journal’s website went down as well.

With such widespread technical glitches, it appears as if hackers may be to blame, although none of the affected companies have released a statement suggesting this. CNBC is also reporting that government officials don’t think there is any connection between all these outages.

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Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@wordpress-785388-2679526.cloudwaysapps.com.
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