New York
CNN
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The New York Stock Exchange experienced a technical issue Tuesday morning that led to a brief trading halt for dozens of major companies just after the market opened. As a result of the issue, some trades that occurred before the halt will be made “null and void,” according to an exchange representative.
Overall, more than 250 stocks were impacted, including such major names as Verizon, McDonald’s, Morgan Stanley, AT&T, Nike, Mastercard, Uber, Wells Fargo, Shell, 3M, Sony, UPS, Visa, Walmart and Exxon Mobil, according to the NYSE.
Many of those stocks made large moves just minutes into the morning trading session, sending the shares of companies like Wells Fargo and Morgan Stanley into a nosedive.
Morgan Stanley briefly plunged to $84.93 after ending at $97.13 on Monday before recovering. McDonald’s and Walmart also fell more than 12% before trading was halted.
By 9:50 a.m. ET Tuesday all affected companies on the NYSE had resumed trading, according to a status report from the NYSE that said “all systems are currently operational.”
Stocks typically open for trading on the NYSE at 9:30 a.m. ET, and each stock is given an “opening price” that is determined by the thousands of orders that accumulated overnight and early in the morning ahead of the opening bell. The exchange compiles these buy and sell orders and formats a single price. That price is then quoted at the open and is known as an “auction print.”
In an emailed statement, exchange officials said opening auctions “did not occur” for a number of these stocks, after a “system issue” prevented the accumulated orders from being …….
