Nasdaq stops all trading due to systems issue, plans to reopen in a limited capacity soon (updated)

Blog sponsored by Engadget.com 22.8.2013 Comments Off on Nasdaq stops all trading due to systems issue, plans to reopen in a limited capacity soon (updated)

Nasdaq stops all trading due to systems issue, plans to reopen soon

Well, this is rather peculiar. The Nasdaq stock market — the entire Nasdaq, which lists major tech firms such as Apple and Facebook — has temporarily suspended all trading due to a technical issue. The exchange sent an alert to traders at 12:14PM ET today announcing that it was halting all trading “until further notice,” according to a New York Times report. Reuters is reporting that Nasdaq will reopen trading soon, but with a 5-minute quote period. The market will not be canceling open orders, however, so firms that don’t want their orders processed once everything’s up and running should cancel their orders manually now. It’s not entirely clear what caused the issue, or how and when it will be resolved, but you better believe it’s causing some commotion on Wall Street, and could impact traders for days and months to come.

Update (2:28PM ET): CNBC and the Wall Street Journal are reporting that Nasdaq will resume limited trading beginning at 2:45PM ET.

Update (2:32PM ET): CNBC is now reporting that trading will resume with just two securities at 2:45PM ET. Full trading will begin at 3:10PM ET.

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