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NYSE Finds Culprit of Glitch That Caused Market Chaos

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The New York Stock Exchange said a manual error caused wild price swings and trading halts for hundreds of company stocks when the market opened on Tuesday.

The root cause of the issue, which the exchange operator says has been resolved, was tied to the company’s so-called “disaster recovery configuration” at the start of the day.

Over 1,300 trades and some 84 stocks were impacted and marked as “aberrant,” NYSE said in an updated statement on its website.

Chart showing Quick Plunge | Wells Fargo shares plunge at open to trigger trading halt

Banks, retailers and industrial companies were among those affected in yesterday’s technical issue, including Wells Fargo & Co., McDonald’s Corp., Walmart Inc. and Morgan Stanley. The error resulted in some gyrations that spanned almost 25 percentage points between the high and low prices in a matter of minutes.