‘Flash freeze’ halts Nasdaq stock trading for 3 hours

1 hour ago

Movement on the outside, but not much happening on the inside. All trading on Nasdaq, the second-biggest U.S. stock exchange, was halted on Thursday s...

BRENDAN MCDERMID / Reuters
Movement on the outside, but not much happening on the inside. All trading on Nasdaq, the second-biggest U.S. stock exchange, was halted on Thursday shortly after midday due to a technical problem.

First there was the “flash crash.” Now there’s the “flash freeze.”

The nation’s second-largest stock exchange, the Nasdaq, ceased trading for three hours Thursday after what it called a problem affecting quote dissemination.

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.

Illustrating the extent of the problem, the Nasdaq first said trading would resume at 2:45 p.m. ET. Not long after that, it said the market would fully reopen at 3:25 p.m., which it did with the index about 33 points higher. In the brief session until the closing bell, it rose another 5 points to close just over 1 percent higher at 3638.71.

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