The Nasdaq experienced a technical glitch on Monday morning, which was resolved after more than two hours. The problem, which affected stock orders in premarket trading, was due to a connectivity issue that occurred before the market opened.
It is the second time in about three months that one of the most popular Wall Street indexes has experienced a technical malfunction. Nasdaq did not provide specifics regarding the severity of the issue but stated on its website that it was related to the matching engine — the software systems that match buy and sell orders.
The technical glitch began at 4:55 am ET and ended at 7:14 am ET.
“The Nasdaq Stock Market has resolved its earlier matching engine issues and all systems are operating normally,” it said on its website. “Nasdaq will provide a full postmortem when available.”
Prior to this, Nasdaq experienced a system error in December 2023 that impacted thousands of stock orders, leading to the cancellation of some orders and the submission of inaccurate orders.
The Nasdaq indexes focus heavily on tech stocks, including iPhone maker Apple, electric vehicle maker Tesla, and semiconductor powerhouse Nvidia. Technical glitches on exchanges can have a detrimental effect on the market and shake up investors’ confidence.