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Computer Glitch Shuts Down Trading on New York Stock Exchange

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Computer Glitch Shuts Down Trading on New York Stock Exchange

Trading on the New York Stock Exchange floor was halted for nearly four hours. The stoppage shortly after 11:30 a.m. local time Wednesday, with all screens displaying a “No quotation” message, according to eyewitnesses. Trading resumed around 3:10 p.m.

“We’re currently experiencing a technical issue that we’re working to resolve as quickly as possible. We will be providing further updates as soon as we can, and are doing our utmost to produce a swift resolution, communicate thoroughly and transparently, and ensure a timely and orderly market re-open,” the NYSE said in an official statement.

“It’s chaos. No one seems to know the root of the cause which seems to me is making everything worse,” a source on the floor of the stock exchange said, according to Bloomberg reporter Leslie Picker.

The NYSE is reportedly rushing to fix the “technical problem,” but there has been no official explanation why all floor trading has been halted. The exchange said it was canceling all open orders as well.

“We’ve had some technical malfunctions. Some may be related to connectivity with other exchanges. I believe we’re going to have a temporary pause certainly in a variety of stocks perhaps floor wide,” Art Cashin, director of floor operations at the NYSE, told CNBC.

The NYSE suspended all trading at 11:32 a.m., half an hour after initial reports of a technical problem, according to Yahoo Finance. Almost an hour into the shutdown, NYSE tweeted that the problem an “internal technical issue” and not a cyber breach.

“We chose to suspend trading on NYSE to avoid problems arising from our technical issue,” the exchange said in a series of tweets. “NYSE-listed securities continue to trade unaffected on other market centers.”

There was another technical glitch at NYSE earlier this morning, but it was supposedly fixed before the floor opened for trading at 9:30 a.m., Marketwatch reported. This morning’s problem was a “gateway connectivity issue,” according to Joe Saluzzi, co-founder of Themis Trading. After the suspension, traders were told that the problem was related to updated software that was rolled out before markets opened on Wednesday, one trader told the New York Times, on condition of anonymity.

The stock exchange cannot reopen until all open trades were nullified… manually.

“At the NYSE this is a manual process,” Sal Arnuk, a principal at Themis Trading, told Yahoo Finance. “Is the NYSE technologically the most [robust] exchange in the world? No. The fact of the matter is the different exchange operators have diverse standards, different architecture. Some of them are more legacy than others. This is to be expected from time to time.”

NYSE stocks are still being traded through other venues, Reuters reported.

NASDAQ announced its systems were operating normally and trading NYSE securities.

Other exchanges, such as NYSE Arca and NYSE Amex/Arca Options, are “unaffected by this issue and continue normal operations at this time,” the stock exchange said. However, NASDAQ and the BATS Global Markets stock exchanges have declared “self help” against the NYSE, Buzzfeed’s Stacy-Marie Ishmael reported. This means that they are opting out of the national market system due to the NYSE’s technical problems. The two exchanges will stop routing trades to and from the NYSE if they have reason to believe the quotes or prices are “stale.” Self help is designed to protect investors from having trades executed at bad prices, according to the Wall Street Journal. Losses have been felt across all of the stock markets stemming from the NYSE trading halt, Marketwatch reported.

The Wall Street Journal website (wsj.com) was down as well. In the meantime, the newspaper set up a temporary website at http://onlinedr.wsj.com/dr/.

Department of Homeland Security (DHS) officials said there was “no indication” of a cyber attack behind the problems at the NYSE, United Airlines or the Wall Street Journal’s website.

The FBI reached out to the NYSE, but was told that “no further law enforcement action is needed at this time,” with the NYSEdescribing the situation as a “technical glitch,” the FBI said in a statement to CNBC. The bureau will continue monitoring the situation.

Securities and Exchange Commission (SEC) Chief Mary Jo White said the agency was “closely monitoring the situation and trading in NYSE-listed stocks.”

The WSJ site was back online just after 12:00 p.m. ET.

The NYSE will close at it’s normal 4:00 p.m.

Entrepreneur, contributor, writer, and editor of Sostre News. With a powerful new bi-lingual speaking generation by his side, Sostre News is becoming the preferred site for the latest in Politics, Entertainment, Sports, Culture, Tech, Breaking and World News.

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80 Million Stimulus Check Direct Deposits Have Been Processed. When Will They Arrive?

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80 Million Stimulus Check Direct Deposits Have Been Processed. When Will They Arrive?

Americans will start to see their stimulus payments this week, a centerpiece of the $2.2 trillion rescue package meant to provide a buffer against the coronavirus pandemic that’s shuttered much of the U.S. economy.

The Internal Revenue Service has begun sending $1,200 payments to middle and lower income adults, plus $500 for their minor children, though it could take until September for every eligible person to get the money.
The first payments “should be deposited directly into individuals’ bank accounts; the precise date you will see payments in your account depends on how long individual banks typically take to process direct deposits,” according to a press release from House Ways and Means Committee Republicans.

The IRS will first send the money to individuals for whom the agency has direct deposit information. The remainder will be mailed as checks. That process is expected to begin April 20 but could take until the fall to complete.

The IRS processed more than 80 million payments on Friday that should be available in bank accounts early this week, Sunita Lough, the IRS deputy commissioner for services and enforcement, said in a video conference Monday.

Payments will be made first to those earning the least.

The IRS has launched a tool for non-tax filers, such as those who had income under $12,200 last year and weren’t required to file a federal return, to enter direct deposit information to get their payments.

The agency plans to have a second website up by April 17 that will show people the status of their payments, including the date the money is scheduled to be deposited or mailed. That tool will also let people who’ve typically gotten their tax refund in the mail to provide their bank account details to get their stimulus payment more quickly.

The IRS is using information from 2018 and 2019 tax returns to process the payments. It says taxpayers who’ve yet to file a return this year should do so as soon as possible, and elect to receive the refund via a direct deposit. The information can then be used to distribute the stimulus payments. Social Security and disability recipients will receive their payments automatically.

The tax deadline was extended to July 15 from April 15 to give people more time to file and pay during the pandemic.

Taxpayers who don’t need extra time and who expect to get a stimulus payment should file as soon as possible so the agency has their most up-to-date details on file, said Christina Taylor, head of operations for Credit Karma Tax.

“The quicker, the better,” she said.

Americans earning $75,000 or less, or $150,000 and below as a couple, are eligible for the full $1,200 payout per adult, plus $500 for each child under 17. Those amounts are reduced for people with higher incomes, and people who make $99,000 or more in earnings (or $198,000 for a couple) get nothing, even if they have children. Individuals must have a Social Security number to receive a payment.

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A Case of Hantavirus Has Been Reported in China. Here’s Why You Shouldn’t Worry.

A man who died in China Monday reportedly tested positive for a hantavirus, but that doesn’t necessarily mean you should worry another pandemic is coming…

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A Case of Hantavirus Has Been Reported in China. Here's Why You Shouldn't Worry.

A man who died in China Monday reportedly tested positive for a hantavirus, but that doesn’t necessarily mean you should worry another pandemic is coming.

Hantaviruses are a family of virus that spread through rodents, according to the U.S. Centers for Disease Control and Prevention.

In Yunnan Province, a man died on his way back to Shandong Province, according to Global Times, an English-language Chinese news outlet.

“He was tested positive for #hantavirus. Other 32 people on bus were tested,” the news outlet tweeted.

The tweet, sent amid a pandemic caused by a new coronavirus, has been shared more than 15,000 times.

Though countries across the globe are on high alert due to uncertainty around the coronavirus, there is no indication that the hantavirus poses a global public health threat.

According to the CDC, hantavirus cases are rare, and they spread as a result of close contact with rodent urine, droppings or saliva.

Certain kinds of rats and mice in the United States can carry the virus, which is transmitted when someone breathes in contaminated air.

“The hantaviruses that cause human illness in the United States cannot be transmitted from one person to another,” the CDC says on its website. Rare cases in Chile and Argentina have seen person-to-person transmission when a person is in close contact with someone sickened by a type of hantavirus called Andes virus, the CDC says.

In the U.S., the virus can cause hantavirus pulmonary syndrome, a severe respiratory disease that can be fatal. Symptoms include fatigue, fever, muscle aches, headaches, dizziness, chills, and abdominal problems. Coughing and shortness of breath can occur later in the disease as the lungs fill with liquid, the CDC says,

Hemorrhagic fever with renal syndrome, found mostly in Europe and Asia, can also occur, which causes pain, fever, chills, nausea, and blurred vision, the CDC says. More serious symptoms include acute kidney failure.

Cases in the United States have typically been concentrated in the western and southwestern states.

From 1993 to 2017, there were only 728 confirmed hantavirus cases in the United States, with most being non-fatal, according to CDC data. In comparison, since late January, when the first known coronavirus case was identified in the U.S., there have been 46,805 confirmed coronavirus cases nationwide, according to a Johns Hopkins University tracker.

In May 1993, a hantavirus outbreak occurred in an area between Arizona, New Mexico, Colorado and Utah. A 2012 outbreak in Yosemite sickened 10 people. In seven states, 17 people were infected in a 2017 outbreak.

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Developments in Presidential Race, Trump does Terribly at Forum as Clinton shines

November is lurking around the corner and will be here before you know it, so my question to you is, have you decided who you will vote for? I have, and I proudly say my choice is Hillary Rodham Clinton. I am informing you all that there are ample development in the race for the presidency of the United States…

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November is lurking around the corner and will be here before you know it, so my question to you is, have you decided who you will vote for? I have, and I proudly say my choice is Hillary Rodham Clinton. I am informing you all that there are ample development in the race for the presidency of the United States.

First of all, Donald Trump, according to Kristina Vong’s article at Thehill.com, wrongly corrected a veteran Marine during a forum. The veteran, a woman named Rachel Fredericks, asked Mr. Trump how he plans to stop 20 veterans from committing suicide, daily. Trump tried to correct the woman, who needed no correction. He said it is actually 22, trying to emerge correct, when he was essentially incorrect.

Mr. Trump also does not have a real plan to defeat ISIS, as “his plan is to have a plan” according to Igor Bobic at the Huffington Post. He also insulted military leaders calling them embarrassments to the country when they were under President Obama. He wants to give the generals 30 days to come up with a plan to defeat ISIS.  Of course, this even makes it more obvious that Mr. Trump does not have a plan to defeat ISIS. Why, then did he call our current president the founder of ISIS? How can you give your vote to someone so unprepared and unfit for the presidency that constitutes a whole country? Sorry to say, but Donald Trump is not someone to vote for, at least not as US President!

According to Sean Colarossi at PoliticusUSA.com, a presidential forum highlighted how prepared Trump and Clinton are compared to each other, with Clinton appearing as the more prepared one, very easily. Clinton was engaged with questions, expressed gratitude, and was very prolific and intelligible in her responses. To reiterate, Trump has not a plan to defeat ISIS, where Hillary has a well thought-out plan. She outlined her plan, entailing it could take any form and she iterated and supports the idea that terror suspects should not be able to purchase firearms. Clinton also covered issues like mental health, illuminating the fact that it is overlooked, and mental health should no longer be stigmatized and victims of mental disorders should have access to resources. On the other hand, Trump gave generic answers like that he knows what is going on in the world. Also according to Colarossi’s article, Trump showed as an “empty suit” and “showed he is not prepared to be commander-in-chief” and that the contrast between him and Clinton could not be clearer”; this essentially means Clinton showed to be immensely more prepared to lead and did not focus on attacking others, like Trump’s approach does.

Lastly, Donald Trump has insulted women, children, ethnic groups, religious groups, his opponent, our current president, the military, and the list goes on. He is patronizing and unprepared to preside over our country as well. He constantly attacks others, with no action in mind. Consider if you want to have him as president, seriously!

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