5 hours ago
First there was the "flash crash.
" Now there's the "flash freeze."
The nation's second-largest stock exchange, the Nasdaq, stopped trading for three hours Thursday after what it called a problem affecting quote dissemination. When trading resumed, however, the shutdown left few visible scars.
The glitch threw trading into turmoil for dozens of publicly traded companies, including high-profile firms such as Apple, Microsoft and Facebook. All traffic for the more than 3,000 shares traded on Nasdaq stopped at 12:14 p.m., the exchange said on its website.
In a statement, Nasdaq officials said that the problem lasted just half an hour, and that the delay took much longer because they wanted to ensure an "orderly re-opening of trading."
The market fully reopened at 3:25 p.m., about half an hour before the closing bell, with the index about 33 points higher. During that brief time, it rose another 5 points to close just over 1 percent higher at 3,638.71.
Once trading got the OK to start again, traders were given a five-minute grace period in which to submit quotes, trade imbalances and conduct other business matters.