The Nasdaq stock market shut down trading today following a technical problem. The exact nature of the problem isn't known. Given the huge percentage of automated high-frequency trading that happens a technical glitch can be a huge problem.
The NASDAQ-100 is a stock market index which tracks the performance of the largest non-financial companies in the world. Yawn. But every year, it gets a little reshuffle to keep it fresh and relevant—and the changes can be rather telling.
During the build up to Facebook's initial public offering last month, there were plenty of clues to suggest that it wouldn't make small investors any money. But that didn't stop them flocking to the deal, in turn wasting their money. Why is that?
After openly admitting that they screwed up over Facebook's IPO, NASDAQ is now planning to compensate those who made a loss when their systems failed to allow trades to take place.
If all the noise and fanfare of Friday was anything to go by, you'd be forgiven for thinking that Facebook's IPO was nothing but a roaring success. Turns out that, behind the scenes, NASDAQ was a crumbling wreck.
The Facebook IPOcalypse continues, free falling first, now barely recovering. We don't know if it's going to be the most successful opening IPO in history but, right now, it seems they may have broken the record for the fastest traded record in history.
Following initial revelations last week, NASDAQ has today confirmed reports that one of its systems has been accessed by outsiders.