Nowadays, most people rely on large financial websites to provide them with information about stock market prices. These websites, along with Apple, Bloomberg and Microsoft displayed erroneous market data in early Asia hours Tuesday. According to a Nasdaq spokesman the glitch was a result of test results that were incorrectly distributed by all of the third party finance websites.
“As part, if its normal process, the UTP distributed test data and certain third parties improperly propagated the data. Nasdaq is working with third party vendors to resolve the matter,” the Nasdaq spokesman said.
A Google spokeswoman confirmed what the Nasdaq spokesman had previously said.
“This is currently being fixed and we hope to update our stock price data shortly,” she said.
Not The First Time
According to CNBC, the most recent stock market glitch was not the first and will probably not be the last. In July 2015, the New York Stock Exchange halted for several hours. When officials were questioned about the glitch, it was immediately blamed on an “internal technical issue.
The first recorded market glitch by CNBC occurred in 2009, when trading in 242 NYSE companies were halted for about 30 minutes. Officials dubbed this glitch a “computer malfunction”.
While these may seem like minor glitches, they can actually be detrimental to the financial market. For more about financial information be sure to visit Buddy Loans.
On May 6, 2010, the Dow Jones Industrial Averaged dropped about 1,000 points. The incident left investors, media and others shocked. In fact, everyone was terrified that the market was going to crash, but fortunately it did not. Officials immediately blamed the finance market glitch on a computer trading systems failure.
London Stock Exchange Glitch
Another glitch occurred on February 25, 2011, but this time it affected the London Stock Exchange. The exchange was halted for more than four hours, leaving investors on the edge of their seats. The glitch was blamed on “technical problem attributed to real-time data feeds.” With no other information available, everyone had to believe that this is what caused the glitch.
Australian Securities Exchange
On October 27, 2011, the Australian Securities Exchange was halted for about four hours. Officials dubbed the glitch on a “technical error.”
Over a month later, the Toronto Stock Exchange experienced a very strange occurrence. Only the companies whose symbol began with letters M-Z were halted trading. It is unsure what really happened and officials could not get to the root of the problem, so they dubbed it an “unexplained glitch.”
On February 2, 2012, the 241 stocks at the Tokyo Stock Exchanged were halted for an unspecified amount of time. After an extensive investigation, the incident was dubbed a “system error.”
While financial market glitches are rare, but not as uncommon as one would think, they can leave a devastating mark on the affected financial market. Officials are not too quick to provide an explanation and when they do, the error is most often blamed on a computer or systems error. They never blame the issue on a cyber breach, but it is always the first thing that comes to mind.
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