Nasdaq trading resumes after 3-hour stoppage

Posted Aug. 22, 2013, at 4:29 p.m.

NEW YORK — The Nasdaq Stock Market fully resumed trading Thursday after a three-hour outage threw a wrench into Wall Street’s day.

The stock exchange fully reopened at about 3:25 p.m. EDT. Limited trading had resumed a few minutes earlier.

Traders and investors braced for possible wild price swings with the resumption of trading in major technology stocks such as Apple and Google.

“There’s a lot that can go wrong,” Sal Arnuk, co-founder of the brokerage Themis Trading in New Jersey, said before trading resumed.

Federal agencies — the Securities and Exchange Commission, the Treasury Department and even the FBI — were monitoring the situation.

It was unclear what caused the outage, and Nasdaq was saying little publicly. Nasdaq-listed stocks were halted but stocks listed on the New York Stock Exchange were trading normally.

“We are monitoring the situation and are in close contact with the exchanges,” SEC spokesman John Nester said in a statement.

Nasdaq’s outage, the latest in a string of technology blow-ups on Wall Street in recent years, threatened to further erode investor confidence in the stock market. Last year, a Nasdaq computer glitch marred Facebook’s initial public offering.

Distributed by MCT Information Services

 

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