Local expert responds to NYSE glitch

WILMINGTON, NC (WWAY) — After a long outage caused by technical problems, officials at the New York Stock Exchange were able to get in some trading before the closing bell. Stocks did finish with sizable losses.

The exchange isn’t saying what the problem was, but describes it as an internal issue and not the result of a breach.

There was no interruption at the dozens of other US exchanges, so investors were still able to buy and sell. One local expert says things wouldn’t have been so smooth in the past.

If this happened 20 years ago it probably would create a lot of panic out there, but in this day and age, when the New York Stock Exchange is shut down due to a computer glitch, all trading isn’t shut down that’s just one market. So many stocks that trade on the New York Stock Exchange can be traded on other exchanges,” said Ross Marino, a certified financial planner.

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