10 Trading Glitches That Stopped The Markets
9. & 10. Nasdaq’s Squirrel ProblemOn December 10, 1987 The New York Times reported, “An adventurous squirrel touched off a power failure in Trumbull, Connecticut, that shut down the National Association of Securities Dealers' automatic quotation service for 82 minutes yesterday.”
Tragically, the squirrel lost its life and an estimated 20 million shares were prevented from trading before power was restored at 10:43AM. At the time, this trade volume was more impactful. Today, average trade volume is much more than the 130 million in 1987.
In 1994, the bushy-tailed assailants struck Nasdaq’s Trumbull computer center again. This time, a squirrel chewed through a key computer cable, causing a dip in power that closed the exchange for roughly 30 minutes.
It is amusing to see that as we go back 26 years the problems plaguing our exchanges were infinitely simpler to explain than those behind the modern snafus.