The Clap
At the start of Tuesday’s session, trading on many stocks was halted due to a technical issue.
What
A few of the major stocks that were impacted include Morgan Stanley, Verizon, AT&T, Nike and McDonald’s. The issue occurred for a very short time, but caused a lot of confusion among traders, raising questions about what trades were filled and whether they were filled at correct prices.
So What
Several traders may consider filing for trade claims due to disruptions from the technical issue. The exact cost is yet to be determined, but it is expected that the cost to brokers and traders will be in the eight figure range.
A technical issue of this nature could lower an investor’s confidence in the market.
Now What
The issue was very quickly dealt with, but the impact it had on trading will still need to be revisited.