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NYSE, Wall Street Journal, and United Airlines-- all the three down due to technical issues

In the case of New York Stock exchange, trading in all securities were halted on Wednesday following earlier reports of technical difficulties, although NYSE-listed issues was still trading on other exchanges.

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Technical issues strangely halt the functioning of New York Stock Exchange (NYSE), Wall Street Journal and United Airlines on Wednesday.

United Airlines said on Wednesday it was restoring operations after all its flights were grounded for about two hours due to computer problems.

Earlier, the Federal Aviation Administration grounded all of United's flights following a systemwide computer glitch, which was resolved, the agency said. The grounding order began at 8 am EDT (1200 GMT) and ended at 9:47 am (1347 GMT).


About 260 flights were delayed, or 12% of all United flights, according to website FlightAware, while seven flights canceled.

United in a statement said "We are recovering from a network connectivity issue this morning and restoring regular flight operations."

US Homeland Security Secretary Jeh Johnson said technical problems reported on Wednesday by United Airlines and the New York Stock Exchange were apparently not related to "nefarious" activity.

"I have spoken to the CEO of United, Jeff Smisek, myself. It appears from what we know at this stage that the malfunctions at United and the stock exchange were not the result of any nefarious actor," Johnson said during a speech at the Center for Strategic and International Studies, a Washington think tank.

"We know less about the Wall Street Journal at this point, except that their system is in fact up again," he added.

United said it would rebook flights for affected passengers without charge.


No additional details were available on what caused the glitch.

Passengers struggled to cope with the travel headaches.

United flights were also grounded on June 2 due to "automation issues."

In the case of New York Stock exchange, trading in all securities were halted on Wednesday following earlier reports of technical difficulties, although NYSE-listed issues was still trading on other exchanges.

After the halt, US stocks extended their losses, but in low volumes, with the S&P 500 hitting a session low and the Dow Jones Industrial Average and Nasdaq both falling more than 1%.

"It's under control. We're just waiting for word. There's no sign of panic at all," Mark Otto of J. Streicher & Co in New York said from the NYSE floor.

"We're waiting to hear word on if there's going to be a reopening, and when it is or any more details."

US markets were in the red even before the halt, which started just after 11:30 am ET, as the slide in Chinese markets spurred concerns over its impact on global economic growth.

Beijing unveiled yet another battery of measures to arrest the sell-off in shares and the securities regulator warned of "panic sentiment" gripping investors in the world's second-largest economy.

Chinese shares have fallen more than 30% in the last three weeks, and some investors fear China's turmoil is now a bigger risk than the crisis in Greece.

"With China, investors fear that could be indicative of a broader economic weakness," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

"We've seen commodity prices fall in the recent days and there's the fear that China may be slowing down a lot more than previously thought."

US-listed shares of Chinese companies took a beating, with Alibaba falling 1.9%. Baidu fell 3.2% and Weibo fell 3.8%.

Euro zone members have asked Greece to come up with new proposals for a special EU summit on Sunday.

The Wall Street Journal website  was also down in the morning on Wednesday but they took to twitter in the evening to announce that the website is back and running.

 

(With Agency Inputs) 

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