New YorkSE reveals cause of stock glitch that caused trading chaos

The New York Stock Exchange disclosed the cause of the glitch that caused havoc on Tuesday, halting scores of stocks around the opening bell, a human.

The cause was determined to be a manual error that occurred at the start of the day with the Exchange's Disaster Recovery configuration. The exchange noted that all exchange systems are operational, and a normal opening is expected for January 25, 2023.

According to the regulatory updates Tuesday, the issue involved dozens of stocks including 3 M, Verizon and Wells Fargo.

Nike shares fell 8% on no news, but recovered at the open. All systems are currently operational, according to the exchange's market status page. The NYSE, owned by Intercontinental Exchange, provided FOX Business with an update on the investigation.

Due to a system issue, the NYSE did not conduct opening auctions in a subset of its listed securities on January 24, 2023. The system issue resulted in continuous trading of securities beginning at 9: 30 am without an opening auction print. A number of Core Trading Session trades occurred prior to the receipt of Limit Up Limit Down bands. These trades are eligible for NYSE Rule 7.10 c 1 B to be reviewed as Clearly Erroneous a portion of the update explained.

The Exchange is evaluating the trades as aberrant for those securities that did not conduct an opening auction and entered a LULD pause before 9: 30: 45. Price Variation Sale Condition H is on the consolidated tape, according to the NYSE.

All systems are operational from 10: 21 am ET.