FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that the New York Stock Exchange (NYSE) issue that is currently affecting 216 stocks is a result of a “technical glitch” due to the NYSE “moving to a new trading system.” Excerpts from the report can be found below, courtesy of Fox Business Network.
On the NYSE technical glitch:
“216 stocks have been halted for trading for the past three plus hours. They’re pretty big names, CVS Caremark, UnitedHealth, Travelers. What we have is the New York Stock Exchange moving to a new trading system… as they move to this new trading system they basically have a technical glitch. Those stocks though can trade. They are trading at other exchanges that’s the beauty of what we have now when you do have sort of competition among various exchanges including the trading desk of Goldman Sachs those stocks can trade.”