Stocks worth $28tn were suspended for almost four hours today due to technical difficulties. Cyber terrorism and criminal activity have been ruled out.The New York stock exchange has now resumed trading after a ‘major technical issue’ caused a four-hour shutdown of the world’s largest equity market.
Trading was suspended from 11.32am and restarted at 3.10pm local time.
According to the FBI, there were no signs of suspicious activity and no law enforcement action was needed, but the cause of the shutdown remains a mystery.
The NYSE tweeted throughout in order to keep traders up to date. “The issue we are experiencing is an internal technical issue and is not the result of a cyber breach,” said the Twitter feed. “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.”
This temporary closure of the NYSE has occurred simultaneously with both China’s stock market plunge and fears for Greece amongst EU bail out talks. The stock market has taken a hit and these series of events has done little to reassure anxious investors.