Many equities listed on the New York Stock Exchange had their trading interrupted for a short time. On Tuesday, just after the market began, trading was momentarily paused for several companies on the New York Stock Exchange (NYSE).
According to the NYSE, some of the most well-known companies in the world were impacted by this event, including Verizon, McDonald’s, Morgan Stanley, AT&T, and Nike.
Many of those equities made significant movements within the first few minutes of the morning trading session, which caused major corporations like Wells Fargo and Morgan Stanley to decline in their share prices steeply.
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After finishing at $97.13 on Monday, Morgan Stanley saw a momentary drop to $84.93 before recovering. Before trading was halted, McDonald’s and Walmart’s shares dropped by more than 12 percent. The drops caused volatility halts to be triggered on the market.
Automatic halts are issued by the New York Stock Exchange (NYSE) and most other major stock exchanges for equities that rush up and down.
A status report sent by the NYSE at 9:50 a.m. Eastern Time stated that “all systems are currently operational,” which indicated that trading had resumed in the affected businesses shortly after the report was issued.
According to representatives of the New York Stock Exchange who spoke, the exchange “continues to examine difficulties with today’s opening auction.”
Exchange officials said in a statement that opening auctions for several equities “did not occur,” and the announcement was sent out by email. According to what they wrote, the exchange is currently attempting to clarify whose stocks were harmed by the situation.
“Impacted member firms may consider filing for Clearly Erroneous or Rule 18 Claims,” they continued, indicating that businesses that had the trading of their stocks halted can seek compensation for financial losses brought on by NYSE system faults.