In our digital age, a computer malfunction or glitch can cause a sizeable catastrophe. From banks to private data, nearly every element of our lives are kept somewhere in cyberspace. Though this existence provides us with an unprecedented level of connection, we have become exposed, and some say reliant on technology. This symbiosis came to the fore when trading was halted on the New York Stock Exchange for over three hours Wednesday morning. Fearing attack from an outside element, officials at the NYSE were quick to respond.
With thousands of dollars being traded every moment, the New York Stock Exchange thrives on speed and efficiency. A blip, the smallest hiccup in that stream of data and dollars can cause untold financial damage to companies and brokers. The technical issue arose at precisely 11:32 a.m. EST, and caused more than it’s fair share of headaches.
Though the NYSE has denied any outside involvement with the interruption, chalking the blip up to “technical issues,” the delay only proved how desperately we rely on the fluidity of technology. “We’re currently experiencing a technical issue,” said a NYSE spokeswoman, “that we’re working to resolve as quickly as possible.” “We will be providing further updates as soon as we can, and are doing our utmost to produce a swift resolution…”
While causing a fair deal of trouble, trading was able to continue through other exchanges. Though NYSE officials reported slight electronic anomalies during early Wednesday morning, the problem was resolved shortly before the entire system went down. The problem all but solved, NYSE officials have reassured traders that their system will be at full capacity soon. And while anxious traders are ready to continue their business, many still remember the Nasdaq’s crash of 2013, and fear a repeat incident. For more on this story and the full article, click here.
At the event, Paulson stated, “‘There is nothing more important to improve humanity than education. For 379 years, Harvard has had a profound global impact across a multitude of disciplines that benefits all of humanity. Today’s gift will help continue that legacy by making SEAS a 21st-century engineering leader. It provides a solid endowment for faculty development, research, scholarships, and financial aid,’” (Harvard Receives Its Largest Gift, Harvard Gazette).
