Trading for dozens of companies on the New York Stock Exchange was briefly halted Tuesday just after the market opened.
According to the NYSE, the top names affected were Verizon, McDonald’s, Morgan Stanley, AT&T and Nike.
Many of those stocks made big moves just minutes into the morning trading session, sending companies like Wells Fargo and Morgan Stanley into a tailspin.
Morgan Stanley briefly dipped to $84.93 after finishing at $97.13 on Monday before recovering. McDonald’s and Walmart also fell more than 12% before trading halted. These declines may have triggered volatility stops on the stock market.
NYSE, and most other major exchanges, issue automatic stops for stocks that rise and fall dramatically.
The affected companies resumed operations shortly thereafter, according to a NYSE status report at 9:50 a.m. ET, which said “all systems are currently operational.”
NYSE officials told CNN the exchange “continues to investigate issues related to today’s opening auction.”
In an emailed statement, exchange officials said opening auctions “did not take place” for a number of shares. The exchange, they wrote, is working to clarify which stocks have been affected.
“Affected member firms may consider filing clearly erroneous or Rule 18 claims,” they added, meaning firms that have had their actions halted may seek reimbursement for losses resulting from system failures. NYSE.
This is a developing story, please check for updates.