A number of large-cap stocks suddenly and sharply moved at the opening of trading on the US stock market on the 24th. The New York Stock Exchange (NYSE) said it was investigating a “technical issue” reported as the cause.
NYSE iswebsite“We are continuing to investigate the issues surrounding today’s opening auction,” it said. “Some stocks did not have an opening auction, and the NYSE is working to clarify those stocks,” it wrote.
Wells Fargo, which closed at $45.03 on the previous day, fell back to $38.10 shortly following trading opened. Morgan Stanley temporarily fell to $84.93. The previous day closed at $97.13.
“It’s a little disturbing,” said Ed Moya, senior market analyst at Oanda, in a phone interview. It’s a big company,” he said.
These deals occurred in stocks listed on the NYSE and have been seen on other trading platforms, including those under the jurisdiction of CBOE Global Markets.
At least 40 stocks in the S&P 500 Index have been suspended, according to data compiled by Bloomberg. Aside from finance, Walmart and McDonald’s also plunged temporarily.
Original title:NYSE Investigates Technical Issue That Caused Wild Market Open(excerpt)
(Updated with NYSE announcements and market insider comments)
