At least 40 S&P 500 Index stocks were hit with temporary trading halts after wild price swings, including Wells Fargo, Morgan Stanley and Walmart.
| Dozens of large-cap stocks saw their prices swing wildly at the open of trading Tuesday, sending companies including Wells Fargo and Morgan Stanley to brief but sharp plunges from which they mostly quickly recovered.
Episodes in which computer glitches lead to erratic pricing are rare on American exchanges but not unheard of.Exchange officials didn’t immediately respond to phone calls and emails. The price action bears hallmarks of past episodes in which computer malfunctions led to sudden price distortions. The event sent Knight spiralling toward insolvency before it was bought out by a coalition of trading firms. Last year, Citigroup’s London trading desk was behind a flash crash that sent shares across Europe tumbling, while in Canada a software-issue caused a 40-minute outage across three stock exchanges.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500 poised to plunge 17pc this year: GranthamThe 84-year-old co-founder and long-term investment strategist of GMO says the S&P 500 could fall to as low as 3000 during 2023.
Read more »
Technology stocks are ‘having a revival’CommSec’s Tom Piotrowski says technology stocks are 'really having a revival” and are “almost leading sentiment' in the market. “We’ve got the Nasdaq up by 1.7 per cent, the S&P 500 up by about a per cent and the Dow up by 0.6 of a per cent,” Mr Piotrowski told Sky News Australia. “So some of the tech stocks are really having a revival, the big marquee names, in particular. “Netflix stands out, they had some very good earnings numbers last week, which has lifted sentiment, the stocks up by about five per cent today.” Presented by CommSec.
Read more »
Recession warning ahead of February rate hikeEconomists are warning Australia could tip into a recession this year if the Reserve Bank keeps raising rates. Wednesday's Consumer Price Index is expected to show inflation may have reached 7.5 per cent at the end of last year ahead of an expected ninth consecutive rate hike to 3.5 per cent when the RBA meets next month. Deloitte warns a dramatic slowdown is on the cards in 2023, meaning growth could decrease from 3.6 per cent to 1.7 per cent.
Read more »
Live: Tech rebound lifts Wall Street, ASX likely to open higherThe Australian share market is likely to hit a fresh nine-month high, while Wall Street's tech-heavy Nasdaq index jumps as investors pile into beaten-down tech stocks on hopes that inflation has peaked in the US. Follow the latest updates in our live blog.
Read more »
Ten killed and at least ten injured in shooting near Los AngelesTen people have been killed and at least ten others are injured after a mass shooting in a city east of Los Angeles. The shooting took place at a ballroom dance club in Monterey Park, near a Lunar New Year festival celebration. LA Country Sheriff Robert Luna says the suspect fled the scene and remains at large, but says local, state and federal law enforcement have been called in to locate the suspect.
Read more »
ASX off to the best start in at least 30 yearsThe Australian sharemarket has posted its second-best start to a year in at least three decades as optimism grows inflation will peak lower than the Reserve Bank’s 8 per cent forecast for the December quarter.
Read more »