Traders work on the floor of the New York Stock Exchange on July 3, 2024.
Brendan McDiarmid | Reuters
The massive IT outage that is causing unprecedented global disruption has not prevented business as usual in most parts of financial markets, but one index provider has experienced complications.
Officials at both the New York Stock Exchange and Nasdaq said trading resumed on Friday. The CrowdStrike Issue It’s hitting everything from airlines to banks to countless businesses around the world.
“The NYSE market is fully operational and we expect trading to open normally this morning,” an exchange spokesman said Friday.
Similarly, Nasdaq, a favorite trading venue for soaring tech stocks, said it was able to weather the problems. Caused by CrowdStrike updateIt was implemented by a global cybersecurity company.
“European and US pre-markets are open as usual and we expect the US market to open as normal,” the company said.
But there were other problems, too: The Russell US Index, which includes the closely watched Russell 2000 small-cap index, wasn’t calculated after the market opened. The confusion appeared to be resolved later in the morning.
“A third-party technical issue is currently impacting our real-time platform, preventing customers from accessing or receiving data,” FTSE Russell said in a statement. “The outage is impacting FTSE Russell real-time indices. Our dedicated teams are actively investigating the issue and working to resolve it as quickly as possible.”
This news is, Crowdstrike The company’s shares fell more than 8.5% in morning trading.
“What happened is not unusual; the scale of the outage and the cascading effects make this one remarkable,” said Gregory Falco, a cybersecurity expert at Cornell University. “This is certainly a nightmare day not only for all the companies affected, but also for the global insurers who write for business continuity.”
The Russell indexes were not updating on the digital platform, but the various indexes were being calculated without interruption. The service was restored at approximately 10:54 a.m. ET after about four hours of downtime.
