Wednesday, July 8th was a bizarre day for both the financial and the technological industries.
It all began when trading on the New York Stock Exchange was suspended due to a “gateway connectivity issue.” Next up, the Wall Street Journal’s normally reliable website went offline. And Lastly, United Airlines was forced to ground all of their planes while the company sorted out a “network connectivity issue.”
An official speaking on behalf of the Department of Homeland Security told the Huffington Post’s Jennifer Bendery that there is “no indication” any of these technological glitches have anything to do with a cyber attack.
After affecting 3,500 flights during the 90 minute delay, United Airlines was up in the air again. While the NYSE resumed 3 hours later, U.S. stocks closed with significant losses. The Dow Jones Industrial Average lost 261 points, Standard & Poor’s 500 declined 34 points, and the Nasdaq was down 87 points. The Wall Street Journal outage was believed to be caused by thousands of people flooding the site for information on the NYSE suspension.
Despite the tidy conclusion to Wednesday’s technical glitches, individuals around the world are asking whether or not there is more to the story.
One tweet by the hacktivist group Anonymous has raised questions. The tweet, which was written the day before the technical glitches on July 7th goes as follows: “Wonder if tomorrow is going to be bad for Wall Street… We can only hope.” Once NYSE trades were suspended, the group followed up with another super mature tweet: “LOL NYSE Wall Street” which was accompanied by a link to a clip from the popular sitcom “The Office” entitled “Stay f***ing calm!” In a follow up tweet the Anonymous group posts: “LoL everyone got whipped into a frenzy about the NYSE tweet…hmmm…wonder how stocks will do tomorrow.” Tomorrow being Thursday, July 9th.
And while many Twitter followers directed their tweets at the NYSE telling them to simply push the restart button, an overnight software update may very well be the blame.
In other news, since experiencing a 52 week high on June 12, 2015 Chinese stocks have been plummeting every since. In three weeks, stocks on Mainland China have lost up to 30% of their value causing many to lose hundreds of thousands of dollars.