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The New York Stock Exchange revealed the cause of the crash that caused havoc on Tuesday, halting many stocks near the first bell, man.

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“The root cause was found to be a manual error related to the exchange’s disaster recovery configuration at the beginning of the system day. All systems of the exchange are operational and normal opening is expected on January 25, 2023,” the exchange noted.

Ticker Security Last Change Change %
me: dj DOW JONES AVERAGES 33713.21 -20.75 -0.06%
SP500 S&P 500 4012.56 -4.39 -0.11%
Me: COMP COMPOSITE INDEX NASDAQ 11312.935686 -21.34 -0.19%

The release, which was brief, covered dozens of stocks including 3M, Verizon and Wells Fargo, according to NYSE regulations released Tuesday.

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MORE U.S. COMPANIES ARE PREPARING FOR REDUCTION OF WORK Amid POSSIBLE RECESSION, POLL SHOWS

Ticker Security Last Change Change %
MMM 3M CO. 113.30 -1.77 -1.54%
VZ VERIZON COMMUNICATIONS INC. 40.25 -0.16 -0.40%
WFC WELLS FARGO & CO. 45.26 +0.81 +1.81%

in the open, Nike promotions fell 8% without clear news, but recovered. As of 9:50 a.m. ET, the exchange said on its market status page, “All systems are currently operational.”

3M REDUCES THOUSANDS OF JOBS

Nike

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Late afternoon, the Intercontinental Exchange-owned NYSE provided FOX Business with an update on its investigation into the situation.

Ticker Security Last Change Change %
ICE INTERCONTINENTAL EXCHANGE INC. 106.34 +0.12 +0.11%

“On January 24, 2023, due to a systemic issue, the NYSE did not hold opening auctions for a portion of listed securities. This systemic issuance resulted in non-stop trading in these securities starting at 9:30 am, without the seal of the opening auction. As a result, a number of deals in the Main Trading Session were made before the Limit Up Limit Down ranges were received. These transactions are eligible under NYSE Rule 7.10(c)(1)(B) to be treated as “clearly in error”. update explained.

“In addition, for those securities that did not conduct an opening auction and entered the LULD pause before 9:30:45, the exchange evaluates the marking of transactions as an aberration (i.e. price change (sale condition H)) on the consolidated tape , the NYSE said.

All systems remain up and running as of 10:21 AM ET.