NYSE trading halted for major companies, recovered after volatility halts.
On Tuesday morning, trading for dozens of companies on the New York Stock Exchange was briefly halted. Major names impacted included Verizon, McDonald’s, Morgan Stanley, AT&T and Nike. Many of these stocks made large moves just minutes into the morning trading session, causing stocks such as Wells Fargo and Morgan Stanley to nosedive. This may have triggered volatility halts on the exchange.
NYSE officials issued automatic halts for stocks that moved dramatically up and down. Trading for the affected companies resumed after a status report from the NYSE at 9:50 a.m. ET, which said “all systems are currently operational.”
The NYSE did not immediately respond to phone calls and emails from CNN Business. This is a developing story and more updates are expected to follow.
The sudden halt in trading caused a disruption in the market and caused some companies to experience significant drops in stock prices. Morgan Stanley, for example, 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.
The NYSE’s automatic halts are designed to protect investors from large and sudden losses. This is especially important in the current market climate, where stocks can be extremely volatile.
It is unclear what caused the temporary halt in trading, but the NYSE and other major stock exchanges have systems in place to protect investors from sudden and dramatic changes in the market. The NYSE’s automatic halts are a measure of protection for investors, and the exchange is working to ensure that all systems are operational.