Technical difficulties were the cause of a screeching halt in trading today at the Nasdaq stock exchange, resulting in a nearly three-hour delay before action resumed.
Nasdaq first sent out an alert at 12:14 p.m., reporting that the issue was due to problems with the system on which trades are recorded. The computer glitch affected both stocks and options markets, and trading was not reopened until 3:25 p.m.
Shares of Nasdaq OMX — the company that operates the Nasdaq stock exchange — fell 3.8 percent after trading reopened.
The stoppage is the latest high profile glitch in U.S. trading systems; earlier this week, for example, the market was left in disarray for a short time after a flurry of erroneous options trades from Goldman Sachs. “Technical errors” were also the reason given for the now infamously botched debut of Facebook’s public offering.
The issue also brought back memories of the “Flash Crash” of May 6, 2010, during which the Dow Jones plummeted roughly 1,000 points and recovered the losses within a span of minutes.
Other exchanges were operating normally, with stocks taking a slight upturn.