Author Topic: NYSE suspends trading  (Read 6408 times)

Bumbling Bee

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NYSE suspends trading
« on: July 08, 2015, 10:21:55 AM »
http://money.cnn.com/2015/07/08/investing/nyse-suspends-trading/index.html


Craziness! I am guessing there will be tech job openings at the NYSE and Dow Jones in the near future...

[Edited because I had tech issues of my own]
« Last Edit: July 08, 2015, 10:25:21 AM by Bumbling Bee »

Kaspian

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Re: NYSE suspends trading
« Reply #1 on: July 08, 2015, 10:28:26 AM »
After watching a documentary about what the guys at Enron did with electricity in California a few years back, seeing the Chinese market dump and what's going on in Greece this week, not sure I believe the whole "technical glitch" thing.   I'm no conspiracy theorist (OK, maybe just a little) but somebody somewhere is surely making a few bucks off this.

Jack

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Re: NYSE suspends trading
« Reply #2 on: July 08, 2015, 10:33:30 AM »
I blame Chinese hackers.

(Just kidding... probably.)

sol

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Re: NYSE suspends trading
« Reply #3 on: July 08, 2015, 10:43:40 AM »
I blame Chinese hackers.

(Just kidding... probably.)

Think it's the opening salvos of ww3?  Take down the stock exchange and some media outlets, then some airlines and power grids, then id theft those 10 million federal employees who had their info stolen from opm, then call in 2 trillion dollars of foreign owned US debt.  Suddenly it's 1974 in America again without a single drop of blood spilled, and China is the only remaining economic superpower.

We'd probably just bomb them back to the stone age with us just out of spite.

gillstone

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Re: NYSE suspends trading
« Reply #4 on: July 08, 2015, 10:52:11 AM »
The idea of no-shots-fired warfare relies on the receiving country not having the means and desire to blow a giant hole in the attacking country.  Russia can do it to Georgia, Israel can do it to Iran (for now), no one can do it to us.  We have too many things that go boom and a deep-seated love of watching them go boom.


investor_n00b

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Re: NYSE suspends trading
« Reply #5 on: July 08, 2015, 10:58:41 AM »
They really need to upgrade the computer hardware and OSes from windows 95.

birdman2003

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Re: NYSE suspends trading
« Reply #6 on: July 08, 2015, 11:09:39 AM »
Cycle the power, works every time for me.

sol

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Re: NYSE suspends trading
« Reply #7 on: July 08, 2015, 11:14:21 AM »
The idea of no-shots-fired warfare relies on the receiving country not having the means and desire to blow a giant hole in the attacking country.  Russia can do it to Georgia, Israel can do it to Iran (for now), no one can do it to us.  We have too many things that go boom and a deep-seated love of watching them go boom.

If that's true, then why isn't anything in China going boom yet?

Seems to me there have been more than enough hacking events to justify retaliation.  Maybe we're already returning cyber fire, and are responsible for China's recent economic troubles?

This is my new favorite conspiracy theory: China and the US are secretly trying to ruin each other's economies, even while knowing they hurt their own economy in the process.  It's like a horrible game of chicken to find out who can endure the worst recession.

beltim

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Re: NYSE suspends trading
« Reply #8 on: July 08, 2015, 11:49:51 AM »
I blame Chinese hackers.

(Just kidding... probably.)
then call in 2 trillion dollars of foreign owned US debt.  Suddenly it's 1974 in America again without a single drop of blood spilled, and China is the only remaining economic superpower.

BONDS DON'T WORK THAT WAY

sol

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Re: NYSE suspends trading
« Reply #9 on: July 08, 2015, 12:33:26 PM »
BONDS DON'T WORK THAT WAY

We're pontificating about a secret international cyberwar, and your salient criticism is about bond structuring?  You're an even bigger conspiracy nutjob than the rest of us.

beltim

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Re: NYSE suspends trading
« Reply #10 on: July 08, 2015, 12:35:43 PM »
BONDS DON'T WORK THAT WAY

We're pontificating about a secret international cyberwar, and your salient criticism is about bond structuring?  You're an even bigger conspiracy nutjob than the rest of us.

If you're going to write fiction, you need to make it believable or you'll lose your readers.

Penny Lane

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Re: NYSE suspends trading
« Reply #11 on: July 08, 2015, 12:48:39 PM »
I think it is concerning that these large institutions seem to have "glitches" on the same day.  T Farley said they plan to reopen the NYSE by 3 so there will be pricing at the close.  Bit scary, and yes, I can imagine some international mischief.

johnny847

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Re: NYSE suspends trading
« Reply #12 on: July 08, 2015, 12:48:58 PM »
I blame Chinese hackers.

(Just kidding... probably.)

Think it's the opening salvos of ww3?  Take down the stock exchange and some media outlets, then some airlines and power grids, then id theft those 10 million federal employees who had their info stolen from opm, then call in 2 trillion dollars of foreign owned US debt.  Suddenly it's 1974 in America again without a single drop of blood spilled, and China is the only remaining economic superpower.

We'd probably just bomb them back to the stone age with us just out of spite.

I'm pretty sure there's some movie along these lines....

sleepyguy

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Re: NYSE suspends trading
« Reply #13 on: July 08, 2015, 02:01:27 PM »
Damn North Korean hackers... Interview 2 must be in post production.

Bardo

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Re: NYSE suspends trading
« Reply #14 on: July 08, 2015, 02:57:12 PM »
I think it is concerning that these large institutions seem to have "glitches" on the same day.  T Farley said they plan to reopen the NYSE by 3 so there will be pricing at the close.  Bit scary, and yes, I can imagine some international mischief.

I would be willing to bet good money that these were the result of hacking, probably from China.  Simultaneous fails at the NYSE and WSJ, those two bastions of capitalism, just smells way too fishy.  The institutions involved are of course not going to say that it was hacking, because 1) it will inflame the tin-foil hat brigade to demand  that the US do something, and 2) result in goofball Congressmen (or is that redundant?) holding hearings.  It's better all around to just blame it on strange one-off technical glitches.  Besides, the US does exactly the same thing.  Remember the mysterious shut-down of the internet in North Korea?  It's all a way of signaling one's power to opponents, just in case things ever heat up too much.  The message today is "Don't screw us around, or else say goodbye to a major stock exchange."




forummm

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Re: NYSE suspends trading
« Reply #15 on: July 08, 2015, 03:05:37 PM »
Aren't there several dozen other stock exchanges in the US?

Bumbling Bee

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Re: NYSE suspends trading
« Reply #16 on: July 08, 2015, 03:33:55 PM »
Aren't there several dozen other stock exchanges in the US?

Eh, it's more like one dozen now; there have been a lot of mergers.

hodedofome

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Re: NYSE suspends trading
« Reply #17 on: July 08, 2015, 07:43:16 PM »

BONDS DON'T WORK THAT WAY

We're pontificating about a secret international cyberwar, and your salient criticism is about bond structuring?  You're an even bigger conspiracy nutjob than the rest of us.

If you're going to write fiction, you need to make it believable or you'll lose your readers.

Yes, China doesn't own us. They have quite a bit of treasury bonds on account at the U.S. federal reserve. We control those bonds, they don't. If we don't want them dumping those on the market, we can just refuse their order. That, or the Fed can buy them with unlimited purchasing power.


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a1smith

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Re: NYSE suspends trading
« Reply #18 on: July 08, 2015, 08:09:18 PM »
Aren't there several dozen other stock exchanges in the US?

Several articles said 11 other exchanges where NYSE stocks could trade.  But NYSE sets the closing price for indexes, funds, etc. so they really wanted to be back up for the close.

wienerdog

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Re: NYSE suspends trading
« Reply #19 on: July 09, 2015, 04:20:55 PM »
Seems odd this was tweeted the night before but media plays over and over it wasn't a cyber attack.

https://twitter.com/YourAnonNews/status/618626955433349120