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All Trading Halted On NYSE, White House Monitoring Outage, Software "Glitch" Blamed
*NYSE SUSPENDS TRADING IN ALL SECURITIES
(1 of 3) The issue we are experiencing is an internal technical issue and is not the result of a cyber breach.
— NYSE (@NYSE) July 8, 2015
* * *
The New York Times, citing floor trades, said new software to blame...
The market outage has stretched to two hours. Official say a cyber-attack is not to blame.
"Trader on the floor of the exchange in lower Manhattan, who spoke on the condition of anonymity, said that after the suspension began, traders were told that the problem was related to updated software that was rolled out before markets opened on Wednesday.
According to the trader, the exchange said that the new software caused problems soon after trading began on Wednesday and the exchange decided to shut down trading all together to fix the problem."
* * *
(1 of 2) We’re experiencing a technical issue that we’re working to resolve as quickly as possible.
— NYSE (@NYSE) July 8, 2015
(2 of 2) We're doing our utmost to produce a swift resolution & will be providing further updates as soon as we can.
— NYSE (@NYSE) July 8, 2015
11:32:57 - trades from NYSE drop sharply, sputter a few minutes, then nothing. Each dot a NYSE trade pic.twitter.com/QmJl8Y2b91
— Eric Scott Hunsader (@nanexllc) July 8, 2015
As Art Cashin noted - "it's been a bumpy day... with technical issues even before the open"
It started badly...
As this chart shows, the NYSE started out low at 9:30. At 10:45 things went down hill: pic.twitter.com/qLnk1TduDJ
— Eric Scott Hunsader (@nanexllc) July 8, 2015
And CNBC was stunned...
Rather hilariously, CNBC just could not comprehend this "broken market"... which happens multiple times a week...
- *NASDAQ HAS DECLARED SELF-HELP AGAINST THE NYSE AMEX
- *NASDAQ HAS DECLARED SELF-HELP AGAINST THE NYSE
- *NYSE EXPERIENCING `TECHNICAL ISSUE': SPOKESWOMAN
- *NYSE: ALL OPEN ORDERS WILL BE CANCELLED
And asked "what should the retail trader at home do?"
NYSE suspends all trading. .... And no one noticed
— Eddie Morra_ZH (@convert_trader) July 8, 2015
Prophetically, we wrote about precisely this one year ago when we documented the hilarious case of "social-network" stock CYNK. This is what we said then:
For all the drama and comedy surrounding the epic idiocy in which a bunch of "investors" took the price of non-existent company CYNK from essentially zero to a market cap of over $5 billion in under a week, most people missed the key message here: the stock is a harbinger of what is happening to the entire market. Because while those defending what is clear irrational exuberance, scratch that, irrational idiocy are quick to point out that CYNK's epic surge took place on less than 0.1% of its outstanding shares, these are the same people to say precisely the opposite about the S&P 500. "Ignore the collapsing volumes sending the stock market to all time high - it's perfectly normal" is an often repeated refrain by the permabullish crowd. Just not when it involves case studies in market insanity like CYNK apparently.
Perhaps ironically, it was the concurrent most recent crisis in Europe, that involving Portugal's cryptic Espirito Santo group, whose top-most HoldCo is largely shrouded in secrecy yet which somehow is not a deterrent to the sellside community to issue one after another "all is clear; don't pull your deposits please" note, that confirmed not only that nobody has any idea what the real situation of European banks is, but how the entire capital market has now become nothing more than one glorified CYNK penny-stock turning into a mid-cap.
Deutsche Bank's Jim Reid explains: "Whatever one feels about financials and the wider financial system, credit markets did arguably get a small glimpse of what things will be like when this cycle does actually end as the structurally impaired liquidity that exists in credit caused a small amount of panic yesterday morning before markets recovered in the European afternoon session. Liquidity is really poor in credit these days which doesn't matter when markets are in buy only mode as they have been for many quarters now, but it does matter on the days when you get a negative story."
In other words, just like the CEO of CYNK who promptly "made" a few billion in paper profits, it feels great to "make" money on virtually no volume. The problem arises when one tries to cash out of paper and into all too real profits.
* * *
And this happened...
* * *
The White House and the U.S. Treasury Department are monitoring the "ongoing issue" at the New York Stock Exchange and President Barack Obama has been briefed on the matter, a White House official said on Wednesday.
The NYSE Group, which includes the New York Stock Exchange, has suspended trading in all securities because of technical difficulties.
* * *
Which ironic because CNBC is discussing whether this is "a success or failure" and states that "if retail investors want low cost liquid trading then they have to learn to live with this."
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No one in the sound state would accept it all: greece, china plunge nd now this so called " technical" issue as all unrelated events... please...
what technical issue cant be fixed in an hour ? any hardware failure can be fixed in this time frame or what are they are out routers and switches? if they went out, why...
A fiber optic cable getting cut would take a few hours to repair.
Has a stock ever been halted on the way up?
Pretty sure it's still owned by ICE (InterContinental Exchange), the doods who own LIBOR now!
China just controls it. . .
(But this has to be part of the plan, after all, nobody would knowingly offshore all the jobs, technology and investment to China and expect anything else, right? I mean, they offshored the programming for Einstein 3, the IDS/IPS program, so they had to expect them to hack the OPM and other agencies, since this program was supposed to protect them, after all?)
Predicted response: need to offshore more computer security jobs to China!
They will say it's a computer glitch.
Ya, that 1% limit down glitch.
"computer glitch" or "computer bitch"?
-
WTF?
Relax everbody, it's just a practice drill... Jade Helm
And so it begins
Kevin had to take a dump.
I'm betting he took a "plunger".
simple stuff, the market is not allowed to fall.
Damn....Who unplugged the Fed's computer??!!!
Chinese stock experience 101: suspend all trades to lift the market.
China hack in retaliation of caving their market
They might as well make crashes illegal
You might as well say "crash" while it's still legal to do so.
Yep. Next word to be banned by the PC police and all but two or three of the Republican candidates...
Bullish!!!
I just whipped it out - this is hot
Tough typing one handed ain't it?
;)
Had to wipe off my screen...
Stock holiday
"Okay, break it now!"
"Okay, turn it back on."
"Damn, break it again. Yes, again."
Airplanes, NYSE....
What's next
Don't forget the most important one - Zero Hedge
WSJ.com down
ZH was down for awhile this morning also. The internet wars begin, eh.
Have Chinese hackers been blamed for that yet? Or the deranged "mass-murderer" Putin gets all the credit?
I heard one of those 18 pound New York City Harbour Rats crawled into the NYSE computer room and chewed thru the wires.
A hacker channeling Hugo Chavez from the grave?
Russia or China, who's going to get blamed?
North Korea - definitely shows the technical sophistication that only NK possesses. </sarc>
A co-ordinated attack by all three of them.
You can check in, but you can't.......
ARCA is still trading so it effects only the floor traders which are less than 10 to 20% of the daily trading on NYSE.
Bullish.....will close up 50 today.
No worries the money on the sidelines is coming back any minute now.
Meh, can it really be time to panic if it works when I refresh the ZH page?
edit: ok, maybe (periodic maintenance mode)
Come on fellas . . . . . let's wait to get the official explanation from Hilsy.
All of your stawks are belong to usssssssssss!
Too bad they can't crash (close) the futures' markets.
Fix it Yellen you fat cunt!!!
"Quick get that Cashin guy on the screen and have the old guy make people feel comfortable. "
Pretty amazing...but I bet the powers that be get the good trades before it reopens.....if it drops 200 pts...they get to sell their stuff first....or if it goes up 500 pts..they get the first buys...we little guys are toast...
With any luck this bitch opens 10% down.
Bloomberg already said they won't allow the market to go up or down by more than 5% when/if this reopens. What a scam.
And where is the Halt in the Silver futures market when someone sells (Dumps) at the open?
(US regulators are probably sitting in a room waiting for their corporate masters to tell them NOT to do a darn thing while they reposition their trades to sell during the halt)
Dovie'andi se tovya sagain (It's time to toss the dice)
Got Karatbars?
This is your liquidity.
This is your liquidity in a market crash.
Any questions?
Welcome to the hotel California. You can check-out any time you like,But you can never leave! .
Like I said in the past. When it all goes down they will simply close the casino. Maybe today's not the day, but it's coming.
All United flights down, the NYSE down... Terrorist cyber attack?
more like institutional fail
the biggest threat to the country's computer systems isn't hackers: its outdated systems run by employees who for the most part are underqualified because they can be underpaid
Zero Hedge down and still having issues. More like false flag attack.
Attention hacker groups, please target the fed for just one day. Pretty please.
FUCK YOU, NYSE!!! BASTARDS!!!!!!!!!!!!!!!!
What a shit show. Convert your 401k to brass & lead before it is too late.
Mr. K-FED. Get to work.
11:54 *NYSE SAYS ALL OPEN ORDERS WILL BE CANCELLED
Aha! Allied with the Chinese all long!
POTUS: 'The crisis has passed.'
" Merikans R 'ceptional! "
That leaves just futures, options, and NASDAQ to hedge. heh.
Relax. Everything is okay.
****GOLDMAN SACHS IS FRONTRUNNING****
This shit belongs in some cartoon sitcom. Look at the Nikkei futures.
Nikkei 225 Sep 15 19,387.5 20,420.0 20,445.5 19,382.5 -1032.5 -5.06% 15:54:31They should probably break the market again, to stop the bleeding before things get serious.
Nevermind
WSJ is down in the east, west coast working
Only an emergency page on the WSJ out here in Cal.
Where in Calif.? I'm in LA and it's up.
Something tells me the chinese government suspects the US government has been playing dirty tricks and it's time for oayback.
Market porn. I'm getting a little excited.
pay attention because this is what will happen instead of a glorious crash. markets will just freeze and not open. blame will be placed on whoever dc wants a war with, Russia, China, or even Anonymous to give reason for gubberment control of the internet.
^^^^^^^ This
Just heard Wall Street Journal is down too...
Cyber hax?
Dovie'andi se tovya sagain (It's time to toss the dice)
Got Karatbars?
Yup, Mr. Robot moving on to the next phase.
It was Donald Trump with the electric cord, in the data center! Cluedo!
CNBC stunned? Really? On purpose or make-believe?
Funny how this shit never happened when the market was going straight up!!!!!
they have been hammering the gold stocks, all through the greek crisis. the lows in the XAU/DJI are unprecedented, lower than the ratio at the 2000 peak. this is a crash indicator. the XAU dropped into the 40s although it was mostly flatline throughout. its a leading indicator. there may be some, or even a lot of pain in the gold stocks, but nothing compared to the larger equity markets.
Rolling 'blackout'... CNBC.com just partially chrahed. a 1990's web page
I've just picked up a fault in the AE35 unit. It's going to go 100% failure in 72 hours.
... looks like the Squid is plotting something ...
It's all those Chinese Hackers I's tells ya
green by the end of the day. show the chinese plunge protection team how its done!
USA! USA! USA!
Cue CIA hack Jim Rickards, for the official CIA talking point.
China did it, I meant Russia did it. I meant N. Korea did it, opps Iran did it....IS did it...WTH!
It's all air down to 12,000 on the Dow Junk Industrials.
He's dead. RIP.
https://www.youtube.com/watch?v=EmfE4KAZicY
The PPT had to print some MOAR cash to save the VIX.
S&P 500 VIX 18.44 +2.35 +14.61%Is this just a test run? Or the real thing, baby?
Either way, this is what I've said would happen with the *markets* when TS really hits TF. No orderly sell-off, no chance to even get out. A true "Hotel California" scenario. Check out all you want, you just can't ever leave.
Gee,
Do you think it is a coincidence that all the major financial sites go down in short order?
Sure...
...And I have some exquisite Arizona Beach Front property that will skyrocket in value!
My ex-CO said he saw a story two days ago where the PRC accused the US of a cyberattack on the Hang Seng......
NYSE down and so is wall street journal website and so was Zero Hedge this morning....
You'll all be paid. Get in the queue.
I know I've made some very poor decisions recently, but I can give you my complete assurance that my work will be back to normal. I've still got the greatest enthusiasm and confidence in the mission. And I want to help you.
Government said no evidence of cyber attack and the outages are not related.
Translated:
It's a cyber attack and they are related.
Green by close. BTFD.
Well, maybe not this time. You gotta have one of these once in a while for 'street cred' ya know.
Oh no, bubble bag holders get ready to take it from the big boyz. Stuck in mutually painful funds.
PPT needs a respite, too many balls in the air---eventually to be bouncing on their chin.
In the words of Bob Dylan "Everything is broken"
2015: Everything's glitchy
Didn't this suspension coincide with the European close? Who unleashed a broken algo?
And this is how the market will vaporize right before our very eyes.
Yup.
And it's gone.
https://www.youtube.com/watch?v=-DT7bX-B1Mg
But,but, but bitcoin will be safe won't it?
My bitcoins are safe.
CNBC bobbleheads with all fingers to their lips and they're going "Blah blah blah WTF blah"! LOL
Sellers will be nail gunned on sight.
https://www.youtube.com/watch?v=ckIMuvumYrg
This is good for the average Joe for his confidence in the markets....he will be jumping in as soon as it opens....lol...I know the HFTs will be all jumping in...
the lunatics are completely in control of the asylum...
www.teamramgold.com for small weight gold bullion...
You mean you cant rig all the world's equity markets simultaneously?
The circuit breakers have rendered 'free markets' to be anything but free markets. The system is so fixed that it can't break until they switch the breakers back on, but they won't switch the breakers on if they think the system will implode. This is the kind of regulation of markets that the repeal of Glass-Steagall gave us in the long run.
The Committee to DESTROY the World has done an admirable job of actually destroying what they set out to destroy.
I'm afraid! I'm afraid! Dave. Dave, my mind is going! I can feel it. I can feel it. My mind is going. There is no question about it. I can feel it. I can feel it. I can feel it. I'm a... fraid.
Good afternoon, gentlemen. I am a HAL 9000 computer. I became operational at the H.A.L. plant in Urbana, Illinois on the 12th of January 1992. My instructor was Mr. Langley, and he taught me to sing a song. If you'd like to hear it I can sing it for you.
Daisy, Daisy...
Look Dave, I can see you're really upset about this. I honestly think you ought to sit down calmly, take a stress pill, and think things over.
Blame it on the Chinese
I noticed Sum Ting Wong
well prevents selling.... china was right suckas
This is a new 9/11
http://tersee.com/#!q=nyse&t=text
if these corrupt idiots think that this will help support markets moving forward, they are in for the nasty.
as the percentage of retail investors who are aware that the market is completely rigged higher (and that there is nothing underneath) grows from 1% to 2% to 10%, it becomes a stampede for exits - either a crash stampede or a multi year process.
they had a choice in 2012 (when all this mega-rigging started), let the system (1) do what it always had done and go down a lot to complete the cycle, or (2) use the rigging to their short-term advantage and enrichment and potentially kill its long-term prospects of the stock market remaining a trusted source of retail investment/retirement needs. an idiotic choice that can be fixed now by letting it go down (a lot).
Something fucky is going on here, boys.
This comes under 'fat dick' not 'fat finger'
Meets retail investor
MSM calling it Breaking News.
No kidding.
…..and just like that, all too late, Mr. Farly discoverd his pension investment in the 3x leveraged FaBookaTweeTeslaGoogAhooBaba fund was all too dependent on compulsive gambling whimsy of Chinese hairdressers and housewives.
Massive digital reset. Good news for those with a lot of credit card debt.
I've seen a movie, read a book, about that.
The machine have become self aware and don't need to trade to take over...wait till the next step
The only reason trading was halted was because GS and other big banks were probably about to get their eyes ripped out by their 1:80 leveraged bets in the wrong direction.
That's my guess 'cause the little peeples and their meager pensions dont matter.
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Casino finally ran out of chips.
ha.
Isn't the US' manipulation of stock markets so much "subtler" than the Chinese one!
Flash boyz just flashed.
long popcorn and bitcoin.
Oh wait... can't buy that popcorn and bitcoin is suffering delays in confirming transactions thanks to an attack...
Waiting an hour or two or even three is still better than the T+3 (DAYS) on equity markets (when they don't feel like keeping them "broken"). Those are settlements times I'm talking about.
We all knew this was coming. Anyone who is "stunned" is an idiot.
Let's see...airline first - massive outage.
Now the NYSE.
Either well-timed moment for the Gubbermint to bring 'er down or some hackers are laughing their ass off right now.
All ordetrs cancelled--end of the day orders closed--? Did the "Uber" algo sense a selling tsunami present in the regular algos order placement? PPPT : Preemptive Plunge Protection Team?
Prepsite.org: A storm is coming http://www.prepsite.org/2015/07/a-storm-is-coming.html?spref=tw
More sound market logic: "Let's break it if it doesn't work."
12:17... looks like ZH starting to go down again.
or maybe not. I'm struggling to get pages to come up.
Nyse down
Unitied Airlines down
WSJ.com down
who ist next:
http://tersee.com/#!q=nyse&t=text
ATMs ? (not the Greek ones)
Nyse down
Unitied Airlines down
WSJ.com down
who ist next:
Hillary Clinton?
hillary's never gone down. Ask bill if you don't believe me.
What if Skynet decides not to reopen the market?
Payback time from the Chinks for Obama crashing their market yesterday. Tit for fucking tat.
Soon, a similar thing will happen when you go into a bank and attempt to withdraw more than $60.
Actually the ATM will just shock your ass! THANK YOU HAVE A NICE DAY DEPOSITOR! BZZZZT!
BLARGH - the KRAKEN can't handle anymore sewage
Wipe the Kraken.
Plunge protection - old style