|Nasdaq stops updating at mid-day
The Nasdaq Composite Index was frozen for nearly three-quarters of an hour Tuesday due to a “human error'' but shares traded normally, the operator of the Nasdaq Stock Market said.
The cause of the problem was “human error performing an operational function which resulted in the incorrect delivery of data to the index distribution system,'' Nasdaq OMX said in a statement.
The problem lasted from 11:53 am to 12:37 pm local time, it said. A graphic on the Nasdaq website showed the index frozen at 3,940.23 points during this stretch.
Nasdaq's index calculation system was not impacted by the problem and “no equity exchange operations have been impacted,'' the exchange operator said.
Individual stocks that trade on Nasdaq, such as Apple and Facebook, continued to trade during the disruption.
The glitch was the latest woe to befall the leading US exchange for technology companies following an August outage on the Nasdaq that halted trading for more than three hours.
Michael James, managing director of equity trading at Wedbush Securities, said the glitch is “definitely problematic.''
“It does not do anything positive in terms of investor confidence in the vehicles we use every day to trade,'' James said. –AFP