– Nasdaq market paralyzed by three-hour shutdown (Reuters, Aug 22, 2013):
Trading in thousands of U.S. stocks ground to a halt for much of Thursday after an unexplained technological problem shut down trading in Nasdaq securities, the latest prominent disruption in U.S. markets.
Nasdaq resumed trading at around 3:25 p.m. EDT (1925 GMT), after a roughly 3-hour, 11-minute shutdown of trading in Apple, Google, Microsoft and more than 3,000 other U.S. companies. The shutdown was the longest in recent memory.
“Any brokerage firm gets paid by executing orders,” said Sal Arnuk, co-head of equity trading at Themis Trading in Chatham, New Jersey. “So yes, we are frustrated, and this hurts us, it hurts the market and it hurts public confidence.”
All traffic through Nasdaq stopped abruptly at 12:14:03 p.m. (1614 GMT). Trading in a single stock resumed at 3 p.m., and other stocks soon followed.
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