Transcript for Nasdaq Resumes Trading After Glitches Force Shutdown
This is a special report from ABC news. Hello everyone -- Hernandez in the special report on the NASDAQ cast the first alignment with the closing bell thing about this afternoon -- -- An organization that provides he thinking. There it is closing bell for this Thursday August 22 hello everyone I'm time Hernandez in New York the big story on Wall Street that NASDAQ crashed. Halting all trading for the index it happened at 12:14 PM. And was doubt until 310 that's nearly three hours six trillion dollars of investment. By the way you're looking at a live picture of the nasdaq's closing bell. They're applauding have a lot to -- as they said. Market is back up there at the NASDAQ. But. Six trillion dollars of investments for frozen president Bob it was briefed on the situation joining us now is Yahoo! finance is Rick Newman Rick what happened. I wish I could give you a thorough explanation. I think we'll I think that people and as heavily sorting this out all -- hopefully with convincing explanation by tomorrow. But basically it seemed there was a disruption in some of the data that's. Needed two priced stocks and -- to execute trades so. It basically shut down the entire NASDAQ exchanges is a different kind of stock crash it's a technical crash. The markets actually went up today by. Somewhere between half a percentage point in a full point but of course it was chaotic given that the NASDAQ exchange was down for more than three hours. -- now do we know -- this was. Packing because that's very serious or was this truly just a technical -- Each yeah that's an obvious question there's don't -- -- any indications right now that this was hacking problem. And of course we've had precedents where. There -- these -- been these rapid unexplained technological snafus -- have shut down the entire markets are urges sent them haywire basically. So it certainly can happen. But you know I mean I think everybody needs to be concerns. Given everything we've heard about hacking from people in China clearly cyber terrorism is something we need to think about. -- I think wouldn't usually -- know exactly what happened in in any minutes or hours right after something like this so we will hopefully get a Fuller explanation. Tomorrow in in days ahead -- -- is NASDAQ respondent have they said anything yet publicly. I think they've been so busy trying to get the market back up that they've basically been giving updates about when they think things will come back on line. And and just getting trading back in order that it had a lot to deal with for instance. This what is the trades won't get sorted out probably by tomorrow -- with them without a doubt there'll be. A lot of people who will claim they lost money because a disruption today. They're -- say somebody needs to be responsible for that -- NASDAQ is gonna have to answer a lot of questions like that. They've been a lot to do. Right what ripple effect to -- has this had on the other indexes the Dow the S&P. Well the other -- Does any other exchanges. That she exchanges anyway operated normally today so -- him it. Actually it changed them volumes immunity shaking you know a distorted -- scenes into story trading everywhere in fact if you look at. Stock charts for you know big companies like apple and Microsoft. They just flat -- in the middle of the day. And you can't just take to begin a huge stocks like this an error almost 3000 companies that are traded on NASDAQ you can't just take them out of the market. And expect everything else -- normally. Exchanges. Including -- New York Stock Exchange seem to operate normally but in terms of all the trading at you have to imagine there were massive distortions. Given that you know some of these highly traded stocks -- available for trading today. Highly traded and in the portfolio is -- a lot of average folks like meanwhile may have them in their 401K -- IRA is so. What happens tomorrow I mean do we need to be concerned if we're sort of the average investor with a retirement fund. I don't think so hopefully nothing happens tomorrow at least nothing out of the ordinary it's trading -- back to normal assuming this is a technical glitch that can be fixed permanently. Overnight. And this. Did this really highlights. Since some stark changes that have taken place in the markets over the last several years. You know that trading today is dominated by technologies. You know some of the fastest supercomputers in the world -- -- the majority of the trading. You know traders -- -- don't really talk to each other anymore and make trades based on handshakes. For ordinary investors who buy stocks and hold on to them or or. You know invest in index funds and things like that and aren't buying and selling every day. This doesn't really mean anything the stock market will more or -- go the direction it's going to go based on underlying fact factors about the economy. But for people who might be -- traders and on getting in and out every day they must be feeling pretty powerless right now because you might have had a strategy for today. That that completely taken out of your control because of because of factors that turns out nobody could control. So and I think anybody who's trading on daily. Hourly or minute by minute basis does face vulnerabilities like this. All right well let's check out how the Dow ended up to Feyerick. Up 66 points Rick Newman from Yahoo! finance thank you so much for joining OK take care all right -- and this has been an ABC news special report. -- -- -- This has been a special group. Report from me.
This transcript has been automatically generated and may not be 100% accurate.