NASDAQ Resumes Trading
Nasdaq has resumed full trading following a halt due to a technical problem.
CNBC expects a spike in trading when it resumes. “You will have some pent-up activity,” said Dave Lutz, managing director of trading at Stifel Nicolaus told the cable channel. “Algos are going to try to make up for an hour and a half you missed, which could seriously skew an illiquid security.”
Other exchanges were operating normally Thursday, and stocks rose slightly.
Nasdaq trading resumed at 3:25 p.m. EDT. The exchange had halted it shortly after noon.
The disruption sent brokers scurrying to figure out what went wrong and raised new questions about the pitfalls of computer-driven stock trading.
Nasdaq said it wouldn’t be canceling any open orders, but that customers could cancel orders if they wanted to.
Thursday’s Nasdaq freeze echoed earlier stock market snafus, such the sudden plunge in stocks in May 2010 that came to be known as the “flash crash” and the glitch-plagued initial public offering of Facebook last year.