Bitcoin Forum

http://news.yahoo.com/us-stocks-head-lower-china-fails-halt-market-142147774--finance.html

NEW YORK (AP) — Trading was halted on the New York Stock Exchange in the late morning because of a technical issue.

The halt occurred at about 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.

Before trading was halted, U.S. indexes were lower as investors worried about China's ability to stem a stock market slide.

The Dow Jones industrial average was down 215 points, or 1.2 percent, to 17,561.

The Standard & Poor's 500 gave up 24 points, or 1.2 percent, to 2,057. The Nasdaq was down 73 points, or 1.5 percent, to 4,924.

European markets were broadly higher as talks continue on Greece's debt woes.

NY Stock Exchange FORKED!

Technical difficulties my a**. It's clearly the fear.
China is falling, Europe is falling,.. not a great day for trading..... unless you trade Bitcoin, of course  ;D

Greece has said it intends to start pension and tax reforms by next week at the latest if it gets more money from the EU. If Greece's new proposal gets accepted then Europe might not fall after all. The pension reforms was one of Greece's red lines and crossing might convince the EU to give them the money.

All that Tsirpas did was blah-blah-blah. We'll see in 2 days what they will propose now to EU written down on paper. But I don't have much of expectations.
Then EU will again ask for a better paper and we are again at square 0.
There will be a few more iterations until they make a deal.

And meanwhile EUR and the stocks are falling.

Actually it probably is a technical issue. The NYSE already has a process called "the curbs" that halt trading if the market falls more than 5% (could be less). It's meant to prevent a crash like what happened in 1929, so the market cannot just fall to zero or lose significant value (broadly) in a single day. The curbs were in the day of 9/11 for example and other dates that have caused negative turmoil to the markets.

I doubt they'd create some fake issue when they already have a regular process in place to address these issues.

LMAO I just cannot help but laugh about that 5% stop.. free market BAHAHAH no it's not.  Where is the stop if it skyrockets 5% OH THERE IS NOT ONE.. fucking money pigs man.. such fucking pigs.



Still not completely against this isn't the start of a cyber war.. American airlines shutdown... NSYE... testing out their weapons perhaps..

In recent years there was a lot of negative talk of how the exchanges where becoming too 'fragmented' (decentralized). Today the NYSE is just one of 9 major exchanges  in the US where you can buy and sell securities.  This was not always the case.

Today's events show how 'decentralization' can be a good thing.  Trading continued on other exchanges with only a slight reduction in volume.

As is always the case, we tech enthusiasts already know and use this.  In the world of Crypto there are hundreds of exchanges, and one going down usually goes unnoticed.

Decentralization++

For better understanding of how NYSE circuit breakers work, the percentages and levels please visit
https://www.nyse.com/markets/nyse/market-model

i don't really support the fact that NY was facing a technical glitch at that point. The markets are crashing down.And simply it could be the fear of NY. Fear of failure of the stocks since they weren't performing that well before too. New york needs to giddy up and not rely on such cheap tricks.We all should be ready to face the consequences whatsoever.

Europe is not failing. Greece is just one insignificant country without strong economy and possibilities they are not even close to being core of the EU.
NYSE stop is caused by technical problems with their computer system. Technical difficulties and network errors are not exclusive NYSE problems today - United Airlines and newspaper "Wall Street Journal" had it too.

I see you're side of it, but downside protection is good for anyone involved not just the pigs, as the saying goes "bears make money, bulls make money, pigs get slaughtered..."

If you're in it you get the downside protection too!

I was a bit suprised with all the safety mechanisms it still failed, also read that United Flights were delayed so there was no escape for the stock traders who could not trade that day  ;D.