An NYSE glitch affected caused a market mayhem resulting in Morgan Stanley and Wells Fargo shares crashing over 10%

Posted By TheNewsCommenter: From Markets.businessinsider.com: “An NYSE glitch affected caused a market mayhem resulting in Morgan Stanley and Wells Fargo shares crashing over 10%”. Below is an excerpt from the article.

A glitch on the New York Stock Exchange caused the prices of some blue chip stocks like Morgan Stanley and Wells Fargo to swing wildly on Tuesday, causing mayhem in the markets.

A NYSE list showed over 250 stocks were affected by the system glitch, causing huge price swings just after their 9.30 a.m. New York open.

Morgan Stanley stock, for one, closed at $97.13 on Monday but fell nearly 13% to $84.93 at its Tuesday open. Wells Fargo shares too plunged 15% to $38.10 on Tuesday, shortly after opening. They had closed at $45.03 on Monday.

Walmart stock, on the other hand, had closed at $142.64 on Monday, but jumped 12% to $159.88 at its open on Tuesday.

Trading halted in these stocks almost immediately and reopened within 15 minutes. Other big names affected included stocks of  ExxonMobil, McDonalds, and 3M.

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