Former New York City Mayor Rudy Giuliani was a guest on the Fox Business show Cavuto Coast to Coast, discussing Wednesday’s sudden, mysterious, and highly unusual halt of trading on the floor of the New York Stock Exchange (NYSE), when he questioned the official assurances that the “technical issue” didn’t involve a possible cyber attack. Noting that neither NYSE officials nor government authorities had said what the problem was, Giuliani wryly observed something to the effect, “If they don’t know what caused it, how can they say it wasn’t a cyber attack?”
And is it possible, even plausible, that the NYSE’s very quick, almost pre-planned, assurance that a hack attack wasn’t involved in the extraordinary measures taken at the exchange was meant to divert our attention from something else that may have been — and may still be — going on?
As Western Journalism reported earlier today, all trading in all symbols was suspended on the floor of the exchange at about 11:30 a.m. ET. The Washington Times‘ coverage of the surprise event noted: “One of the world’s biggest stock exchanges had seen shares trending down throughout the morning because of economic crises in Greece and China, but all trading halted at 11:32 a.m. as data on trades and prices apparently stopped coming into the traders’ computer screens.”
Official communications from the NYSE via Twitter have been sparse and lacking in detail. As of this writing, the exchange’s official Twitter account has seen the issuance of only a handful of advisories. Among them are the two following tweets that vaguely describe the “issue”:
Hours after the shutdown of activity on the floor of the NYSE, the mystery remains as to what might have happened.
Meanwhile, many anxious investors are left to wonder and worry. Some doubters took to Twitter to express their suspicions about the source of the “technical issue” that caused trading in all securities to be halted shortly after United Airlines was forced to ground all flights in U.S. airports due to reported computer issues.
Some of the skeptical tweets centered on concerns that the truth, the whole truth, and nothing but the truth is not being shared with the American people, many of whom have their personal wealth tied up in the stock market. The subject of China and its worsening financial difficulties has been raised by quite a few folks, as you can see below.
As Reuters reported in an article on the Chinese economy posted earlier today, Wednesday:
Chinese shares have fallen more than 30 percent in the last three weeks, and some investors fear China’s turmoil is now a bigger risk than the crisis in Greece.
Fears of a slowdown in China will be a concern for U.S. companies, especially materials and industrial companies, which derive a chunk of their profit from the region.
These events and the resulting concerns about the deteriorating condition of the Chinese financial markets add weight to the informed speculation that China — or high-level but undisclosed considerations of serious ripple-effects from China’s perilous situation — may have played some part, possibly a major role, in the mysterious and prolonged shutdown of the New York Stock Exchange.
Then, of course, there are the associated concerns about the massive cyber attacks on government computer systems as well as U.S. infrastructure for which many in the know blame the communist nation or its hired hackers.
Just yesterday, the South China Morning Post published an investigative piece with the shocking headline: “Top Hong Kong Universities caught up in major hack attack on more than 100 global institutions.”
And only seven days ago, The Daily Beast noted an FBI warning to U.S. firms to be on the lookout for Chinese hack attacks of the kind that recently compromised the personal information of millions of government workers in the database of the Office of Personnel Management.
The FBI is warning U.S. companies to be on the lookout for a malicious computer program that has been linked to the hack of the Office of Personnel Management. Security experts say the malware is known to be used by hackers in China, including those believed to be behind the OPM breach.
So, has the sketchy economic health of China — one of the world’s biggest economies and a super-important U.S. trading partner — impacted the operations of the venerable New York Stock Exchange? Despite official disclaimers that there’s no cyber attack to blame for the halt of trading, it may turn out that somebody, somewhere pulled a plug to turn off the system and keep it from crashing in spectacular fashion.
The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by WesternJournalism.com.
This post originally appeared on Western Journalism – Equipping You With The Truth