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Stocks resume trading after earlier NYSE tech issue

Yahoo Finance's Jared Blikre checks in on markets following a tech issue on Tuesday morning that halted trading on the NYSE.

Video Transcript

- Quote, "we haven't seen this in years." Traders and market watchers reacted in open-jawed shock at this morning's market moves. The New York Stock Exchange apparently suffering a, quote, "glitch."

- I know. It was pretty incredible. It took me by surprise. Jared Blikre has been all over it for us today. Jared, what happened? And what does this mean, do you think, going forward?

JARED BLIKRE: Going forward. I don't think we have a lot to worry about, probably a one off here. But we should review. This affected 252 names-- this is only about a third to a quarter of them-- and at the opening auction. And that's basically the opening bell here.

You have trades that are supposed to be matched. And that did not occur. And so you had all this liquidity. If you can think of the bids up here and the offers down here, all that vanished so that by the time the exchanges got some information from the New York Stock Exchange, it was too late. A bunch of trades had executed way above and way below the prices.

So in a bunch of these big names, like Walmart, Taiwan Semi, ExxonMobil, a lot of those trades are going to be canceled. And we just found that out a few minutes ago when we got this notice from the New York Stock Exchange. Not going to go into all the details, but basically, any stock or any security that was subject to these trades early on today, if they were out of those volatility bands, probably going to be decayed or just overturned.

This is a fact of life. It happens. They weren't supposed to happen in the first place. Perfectly legal. Sometimes erroneous trade happens. And now they're going to be canceled. But if you think you were affected, make sure you check your account statements. You're going to have only a few days to probably review and if there are any problems, correct the situation.