NEW YORK What the hell is going on today? First, United Airlines grounded all flights -- worldwide -- thanks to a technical glitch. That'll probably cost the airline millions of dollars. But that's just a drop in the bucket compared to the ENTIRE New York Stock Exchange shutting down. CNBC reports trading stopped at 11:32a due to a technical issue. On its status page, theNYSE stated, "NYSE/NYSE MKT has temporarily suspended trading in all symbols. All open orders will be cancelled. Additional information will follow as soon as possible." Which, if you've ever seen a stock broker on the NYSE floor... well, those guys don't exactly like to wait around for more information. Oh, and following the saying that bad things come in threes... the Wall Street Journal's website was also experiencing technical difficulties. Maybe it's all a coincidence. Or maybe the world's ending.
NEW YORK (AP) — The New York Stock Exchange stopped trading in the late morning Wednesday because of a technical issue, though shares continued to trade on other exchanges. U.S. indexes sank amid growing concerns that trouble in China's markets could spread. KEEPING SCORE: The S&P 500 was down 23 points, or 1.1 percent, to 2,057 as of 12:05 p.m. Eastern time. The Dow Jones industrial average sank 205 points, or 1.1 percent, to 17,573, while the Nasdaq fell 70 points, or 1.4 percent, to 4,927. RESPONSE: "I think it's a combination of fears," said Hank Smith, chief investment officer at Haverford Trust. "The fear that there won't be a bailout for Greece combined with what's going on in China." STOP TRADING: NYSE halted trading shortly after 11:30 a.m. Eastern time Wednesday. The exchange said in a statement that it was experiencing a "technical issue" that it was working to resolve as quickly as possible. Trading continued on Nasdaq and other exchanges. STATESMAN JOURNAL Stocks plunge as trading halted on the NYSE REPORT CARDS DUE: The unofficial start to the second-quarter earnings season starts Wednesday when Alcoa turns in its results after the closing bell. Analysts forecast that companies in the S&P 500 will report that their overall earnings dropped 4 percent in the quarter, according to S&P Capital IQ, as a rising dollar and falling oil prices pinched profits. GLITCH: United Airlines temporarily grounded all its flights in the U.S. because of a problem with its computer system. It's the second time in two months that the Chicago carrier has been hit by technical troubles. Shares in United Continental Holdings, the parent company, fell 84 cents, or 2 percent, to $53.45. CHINA: The Shanghai Composite sank 6 percent Wednesday, despite new attempts by China's government to stop the selling. Hong Kong's Hang Seng, a victim of the turmoil in mainland Chinese markets, also lost 6 percent. Beijing ordered state-owned companies to buy shares and promised more credit to finance trading. The Shanghai index has lost a third of its value in the last month, leaving it with gains of 70 percent over the past year. GREECE: Hopes for a resolution to Greece's crisis rose after the country applied for a new three-year loan and said it would have a new proposal for creditors in coming days. The deeply indebted country needs a financial lifeline from its European lenders before its banks collapse, an event that could push Greece out of the currency union. EUROPE: Germany's DAX gained 0.7 percent and France's CAC 40 rose 0.8 percent. Britain's FTSE 100 added 0.9 percent. ASIA'S DAY: Japan's Nikkei 225 fell 3 percent, and South Korea's Kospi lost 1.2 percent. Australia's S&P/ASX 200 shed 2 percent. CRUDE: Benchmark U.S. crude fell $1.16 to $51.16 a barrel on the New York Mercantile Exchange. Brent crude was off 48 cents at $56.38 a barrel in London. BONDS AND CURRENCIES: U.S. government bond prices edged up, nudging the yield on the 10-year Treasury down to 2.22 percent. The euro rose to $1.1083, while the dollar fell to 120.78 yen.
So they are saying that new software had been installed and it is just glitches. Nope, not buying it.
The news was coming in so fast this morning. Greece asked for a 3 year loan. Russia is waiting in the wings, though some say Russia doesn't have the funds to handle the Greece mess. Then China and its market. Sadly I keep wondering what is real because the MSM is so full of garbage it is hard to find the truth.
Wait a few days and the truth will come out.... the Banksters can't hid it for long.... someone ALWAYS spills the Beans...
The money games continue. Can't go on forever. Someday soon they will have to use mathematics and logic again.
The doom sites are passing this around. Not sure if Norse is a truthful site but darn..... http://map.norsecorp.com/ Cyber attack map. St. Louis is the focus.
I am completely out of the market, not sure if it is a good idea but I want to be able to sleep at night. The issue is now is where to put it. My IRA and 401k is now all in money market accounts. I have worked to damm hard for that money to take any chances, my risk tolerance has gone down to almost nothing.
Heard a guy talking in a restaurant earlier. Apparently one of his buddies works with all of this, and the computer program that the traders were using was automatically buying and selling things to itself without approval, which is why they had to shut it down...
Ah, Skynet has figured out how to actually kill off the humans. Won't need to drop a few nukes on us. Just take out the financial systems. It's become self-aware. Now I'm gonna panic!
Well now wait a minute...what stocks are we talking about it buying/selling? I mean if it's selling off organic food company stocks, and buying Sony(aka Playstation), Budweiser, and Frito-Lay stocks, we got nothing to worry about it.
Cyber attacks will only increase as the financial systems across the globe shutter. The internet is the single greatest obstacle in the path of Slavery, Inc. With an informed populace, they will not achieve the smooth implementation of policy they hope for. Watch, and wait.
I heard that North Korea took credit for the "glitch" yesterday. For some reason I just do not believe NYSE halted because of a NK attack.
More likely "blame" not credit. See, they were playing PONG on their best computer, and they spilled their drinks on the control panel, and blew the circuit fuse with a bang loud enough to scare the guy peddleing the bicycle-generator into peddling too fast, and that blew up their best power grid and both strings of Christmas lights. Since their mishap, coincided with the market computer shutdown, they are sure they must have caused it. They are now trying to figure out how to wesponize the process.
Read "Currency Wars" and "The Death of Money" by James Rickards to learn that they've already weaponized it. (not NK though).
