Trading for dozens of companies on the New York Stock Exchange was briefly halted Tuesday just after the market opened.
Major names impacted included Verizon, McDonald’s, Morgan Stanley, AT&T and Nike, according to the NYSE.
Many of those stocks made large moves just minutes into the morning trading session, sending companies like Wells Fargo and Morgan Stanley into a nosedive.
Morgan Stanley briefly plunged to $84.93 after ending at $97.13 on Monday before recovering. McDonald’s and Walmart also fell more than 12% before trading was halted. Those drops may have triggered volatility halts on the exchange.
NYSE, and most other major stock exchanges, issue automatic halts for stocks that move dramatically up and down.
The affected companies resumed trading shortly thereafter, according to a status report from the NYSE at 9:50 a.m. ET, which said “all systems are currently operational.”
NYSE officials told CNN that the exchange “continues to investigate issues with today’s opening auction.”
In a emailed statement, exchange officials said opening auctions “did not occur” for a number of stocks. The exchange, they wrote, is working to clarify which stocks were impacted.
“Impacted member firms may consider filing for Clearly Erroneous or Rule 18 Claims,” they added, meaning companies that saw their stocks halted can seek reimbursement for losses resulting from NYSE system failures.
This is a developing story, please check back for updates.