U.S. markets open in 1 hour 24 minutes
  • S&P Futures

    -1.00 (-0.03%)
  • Dow Futures

    -76.00 (-0.29%)
  • Nasdaq Futures

    +37.75 (+0.34%)
  • Russell 2000 Futures

    -6.80 (-0.44%)
  • Crude Oil

    -1.53 (-4.09%)
  • Gold

    -4.70 (-0.25%)
  • Silver

    -0.19 (-0.83%)

    -0.0043 (-0.36%)
  • 10-Yr Bond

    0.0000 (0.00%)
  • Vix

    +7.14 (+21.41%)

    -0.0044 (-0.34%)

    -0.0610 (-0.06%)

    -93.08 (-0.71%)
  • CMC Crypto 200

    -14.70 (-5.39%)
  • FTSE 100

    -16.08 (-0.29%)
  • Nikkei 225

    -86.57 (-0.37%)

Human vs. Machines: Nasdaq Outage and Aftermath Expose Market’s Weakness

Lauren Lyster
Human vs. Machines: Nasdaq Outage and Aftermath Expose Market’s Weakness
Human vs. Machines: Nasdaq Outage and Aftermath Expose Market’s Weakness

From last week’s Nasdaq outage to the passing of Muriel Siebert, the first woman to own a seat on the New York Stock Exchange – we’re seeing “the end of an era in so many ways” on Wall Street. That’s what Heidi Moore, the Guardian’s US finance and economics editor, tells The Daily Ticker.

Muriel Siebert, who died in Manhattan this Saturday, was the first woman to buy a seat on the NYSE. Siebert purchased her seat on the exchange in 1967 – despite opposition and ridicule – nearly a decade before another woman joined her there.

“She was of the generation that you could just get to work on Wall Street because of moxie and sheer determination,” says Moore of Siebert. “Now Wall Street is much more corporate.”

Siebert was a trailblazer for women in finance, something Moore says has lost momentum in recent years as Wall Street has shrunk.

Related: Billionaire Investor Says Babies Are Like Divorce, They Both ‘Kill’ Focus

Siebert was a human on the NYSE, who made trading decisions herself. That’s something we don’t see much of anymore with the rise of computers (electronic trading including algorithmic and high frequency trading now dominate the markets), meaning the “human touch of trading has really passed.”

Related: Dark Pools: What Are They And Should You Be Concerned?

This became obvious last week when trading on the Nasdaq was halted for three hours – making it the longest shutdown of an exchange in recent memory, according to CNBC.

Related: Scared By the Nasdaq Flash Freeze? Get Over It Says Fahmy

Some have dismissed this shutdown, saying that in a world where you’re dealing with trading dominated by computers, you’re going to have problems.

Moore begs to differ. Check out the video to see why.

Tell Us What You Think!

Send an email to: thedailyticker@yahoo.com.

You can also look us up on Twitter and Facebook.

More from The Daily Ticker

Top U.S. Airports to Be Stranded In During a Flight Delay

Rare $2,500 Chicken is Lamborghini of Poultry

Obama Takes on the College Cartel