BUSINESS

Trading Halted On NYSE Due To Technical Glitch

07/08/2015 12:03 EDT | Updated 07/09/2015 11:59 EDT

Latest updates at bottom

NEW YORK (AP) — Trading was halted on the New York Stock Exchange in the late morning because of a technical issue.

The halt occurred at about 11:30 a.m. Eastern time Wednesday.

The exchange said in a statement that it was experiencing a "technical issue'' that it was working to resolve as quickly as possible.

Before trading was halted, U.S. indexes were lower as investors worried about China's ability to stem a stock market slide.

The Dow Jones industrial average was down 215 points, or 1.2 per cent, to 17,561.

The Standard & Poor's 500 gave up 24 points, or 1.2 per cent, to 2,057. The Nasdaq was down 73 points, or 1.5 per cent, to 4,924.

European markets were broadly higher as talks continue on Greece's debt woes.

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2015-07-08 1:34 p.m.

The technical problem that has halted trading on the New York Stock Exchange hasn't changed the Dow or other market indexes much.

Stocks were already down when the trading halt occurred. Traders worried about China's failure to stop a steep drop in its own market, and they were also monitoring a logjam in talks between Greece and its creditors.

Major indexes continued to move as stocks were traded on other platforms such as the Nasdaq.

The S&P 500 was down 23 points, or 1.1 per cent, to 2,057. The Dow Jones industrial average sank 184 points, or 11 per cent, to 17,593, while the Nasdaq fell 66 points, or 1.3 per cent, to 4,931.

It's not clear how long the trading halt, now two hours old, will continue.

1:18 p.m.

Stock in the company that owns the New York Stock Exchange Is trading despite the halt on the floor, and it is falling.

The IntercontinentalExchange Group, which bought NYSE Euronext in late 2012, is down 1.7 per cent. That compares with a drop of 1.1 per cent for Standard and Poor's 500 index.

Stock of Nasdaq OMX Group, the company that owns the rival Nasdaq market, is down 1.8 per cent.

12:53 p.m.

Trading exchanges have been struggled with technical trouble in recent years like that which halted trading on the New York Stock Exchange on Wednesday.

In May 2010, the Dow Jones industrial average plunged hundreds of points in minutes due to mass selling triggered by computerized trading programs. In March 2012, BATS Global Markets, a Kansas company that offers stock trading services, cancelled its own IPO after several technical snafus.

Two months later, a highly anticipated IPO of Facebook on the Nasdaq exchange was marred by a series of technical problems, rattling investors unsure if their orders to trade went through. In 2013, trading in options in Chicago was halted due to an outage caused by software problems.

12:51 p.m.

The White House says President Barack Obama has been briefed on the technical issue that has halted trading on the New York Stock Exchange.