Banking, finance, and taxes
NASDAQ Halt Brings Back Flash Crash Concerns
Published:
Last Updated:
Do you remember the Flash Crash? NASDAQ OMX Group (NASDAQ: NDAQ) is proving yet again why there still needs to be some human control and interaction over the vast numbers of shares trading each day. The only good news is that this is not the same sort of halt from a Flash Crash.
The NASDAQ has been experiencing a trading halt in all major NASDAQ-listed securities, due to technical issues. Trading was halted shortly after Noon EST on Thursday. We have been told that the New York Stock Exchange, BATS and DirectEdge exchanges have also halted trading in NASDAQ-listed shares. The glitch is said to be tied to the quote dissemination system.
NASDAQ OMX originally said it planned to reopen trading for a 5-minute quote-only period, but the reality is that if one exchange is halted for trading it grinds trading in other exchanges down to a halt.
Thursday’s halt also came at a time when the NASDAQ was up over 31 points or about 0.9%. As of 2:00 PM EST trading on NASDAQ remains halted.
UPDATE: NASDAQ will resume trade at 3:10 PM EST… Whoops, Now they say 3:25 PM EST.
Here is how bad the situation is if you look at the image from NASDAQ Trader’s website.
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.