Trading in dozens of companies on the New York Stock Exchange halted briefly on Tuesday after the market opened.
Major names affected included Verizon, McDonald’s, Morgan Stanley, AT&T and Nike, accordingly. to the New York Stock Exchange.
Many of these stocks made big moves just minutes into the morning trading session, sending companies like Wells Fargo and Morgan Stanley plummeting.
Morgan Stanley fell briefly to $84.93 after closing at $97.13 on Monday before recovering. McDonald’s and Walmart stock also fell more than 12% before trading was halted. This decline may have caused the volatility in the stock market to stop.
The New York Stock Exchange, and most other major exchanges, issue automatic stops for stocks that move significantly up and down.
The affected companies resumed trading shortly thereafter, according to a status report from the New York Stock Exchange at 9:50 a.m. ET, which said “all systems are currently operational.”
NYSE officials told CNN that the exchange “continues to investigate issues with today’s inaugural auction.”
In an emailed statement, exchange officials said the opening of auctions “did not happen” for a number of stocks. They wrote that the stock exchange is working to clarify which stocks were affected.
They added, “Affected member firms may consider making clear or false claims under Rule 18,” which means that firms whose shares have ceased can seek compensation for losses resulting from the failure of the NYSE system.
This is a developing story, please check back for updates.