# @benzinga on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/Cn4x5_UqGtd
- **Gondola URL:** https://gondola.cc/posts/17861622-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/291a0478c3.jpg
- **Posted:** 2023-01-26T17:44:14.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

The New York Stock Exchange was forced to halt more than 200 stocks in early trading Tuesday in what was previously said to be a technical error. As it turns out, someone just fat fingered a switch. Follow @benzinga

What Happened: According to a Bloomberg TV report, the chaos has been traced back to an employee who accidentally left a backup system running at the NYSE.

The system helps to prevent disasters, but in an ironic turn of events, it ended up being the cause of Tuesday's mayhem. The backup system is supposed to be shut off and then turned back on regularly, but an employee accidentally failed to shut down the system prior to the open.

"The NYSE main system thinks that trading has just been running, so come 9:30, it just treats it like an extension of the trading day," Bloomberg's Dani Burger said Thursday morning on Bloomberg TV.

Several trades have been canceled and there may be financial repercussions. The exchange sets aside about $500,000 per month to deal with different problems, but it's likely that it never anticipated one quite like this.

Uber Technologies Inc, McDonald's Corp, Nike Inc and Morgan Stanley were among the stocks impacted on Tuesday. The SPDR S&P 500 was highly volatile throughout the first half hour of trading as traders scrambled to figure out what was going on.
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## Stats

- **Views:** 13,653
- **Likes:** 301
- **Shares:** 0
- **Comments:** 13

## Tags

daytrading, optionstrading, economy, trading, stockmarket, wealthbuilding, daytrader, investing, fatfingers, entrepreneurship, business, nyse, tradingstrategy, trader, investment, money, stockexchange, stocks, investor, cryptocurrencies, bloomberg, stockmarketnews, wallstreet, stocktrading, wealth, stockmarketinvesting, financialfreedom, news, entrepreneur

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