HHMMMmmm-- the NAS was down the last 20 Min... wonder where it would have closed....
NEW YORK, Nov 16 (Reuters) - The Nasdaq, the largest U.S. electronic stock market,
shut down for about 20 minutes late Tuesday because of system glitches, crippling trading
just before the market's official close, traders said.
The Nasdaq's press office declined to comment, but said it would put out a statement
explaining what happened shortly.
The problems came after the U.S. Federal Reserve raised interest interest rates, while
signaling it was unlikely to increase rates again any time soon. Investors responded by bidding up prices on U.S. stocks,
especially those in the financial services sector.
Nasdaq's system broke down for about 20 minutes, from around 3:40 p.m. (2040 GMT) to 4 p.m., the official closing time for
the market's afternoon trading session, market sources told Reuters.
``It was down for 20 minutes. It came up for a few seconds at the end, but then went back down,' said James Volk,
co-director of institutional trading at D.A. Davidson and Co., Portland, Ore.
``It was on and off for the last 20 minutes,' said Nelson Gold, a trader in Nasdaq-listed stocks at Wachovia Securities in
Atlanta. ``It's a little traumatic when you're trying to do business. But it's not the end of the world.' |
