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there s been an exponential increase in the amount of shares that are moving around every day. the entire value of the market now flips over about once every ten months i. used to be years and years. what s interesting, let s assume this was a computerized trading problem, a flash crash as they call it. it wouldn t be such a big deal if people were buying and holding stocks like they used to. it s a much bigger deal because the volumes are so great. then you get a lot of turbulence from an event like this. if it s a technical glitch, talk to me about the difference technical glitch halting trading versus the stock exchange itself forcing the trading to stop. if the stock exchange made a call to halt trading and it wasn t for technical reasons, i would be curious if there was major market manipulation going on or another bigger issue. no evidence of that yet. but even a technical glitch really upsets people and draws attention to this issue that a lot of what s going on in the m ....
Let s change our a algorithm. so all of this happens within seconds and it goes to how volatile the markets are. in less than seconds. less than. we ve seen the stories of the servers, them wanting them to be as close in new jersey as possible to the new york stock exchange so they can move a millisecond off and a millisecond can mean millions and billions of dollars in trading. amazing. we ll continue to watch this. and back to china for a quick second. we re watching volatility here and volatility there. as we re watching volatility in both places, one thing we haven t gotten to is with all the volatility, the crisis china is facing, what is the fix there? well, the fix is not an easy one. they need to move to becoming a consumer-driven society. right now the government is basically pumping all the money into the economy. you ve probably heard of ghost cities in china. buildings standing empty because the government builds them and nobody buys the apartments. china is tryin ....
Nothing to do with what you and i are doing. and uncertainty is the worst thing for the market. this is certainly a technical glitch to halt trading. i ll draw a comparison between what happens here and what happens in china. if you think volumes are bad here, in china, the market turns over once a month. it s just amazing the amount of speculative trading that goes on in those markets. absolutely. let s get back to alison real quick. a final note for you, alison, what s going on? i want to confirm that the new york stock exchange is telling us this is a technical issue on the floor. no one is certain what happened here. the new york stock exchange has been experiencing system problems this morning. this is not a flash crash, this is a technical issue. once again, the irony of this is that the technology that the new york stock exchange prides itself upon, it s what it pitches out in markets when it tries to get ipos to come here as opposed to nasdaq which has had its own huge ....
Is. is and we won t. we don t know. we are figuring this out as we speak. alison, are you hearing anything more? i am seeing the numbers moving, not hearing officially that trading has started but i see numbers moving. i also see the dow dropping even more. now the dow falling 215 points, but nevertheless, trading has resumed at the new york stock exchange after a major technical glitch halted bids for several minutes here. they call these after-action reviews. there s going to be a serious after-action review. we ll get back to you. alison will work on to get confirmation from the new york stock exchange itself the numbers can probably tell us that, but we ll wait to see if there s confirmation. what does a technical glitch let s say it lasted five, ten minutes. do you have any idea what that would mean in dollars? what that could mean for investors? billions, as alison was saying, 80% of trading is done via computer programs so these computer programs kick in based on w ....
Their companies and do ipos because they think our markets work. that they re transparent unlike china that they have technology we can trust so when things like this happen it makes people feel insecure. i think there s a bit of insecurity a good word for what we re looking at. rana, thank you so much for being here. alison kosik is still working the phones. we ll take a quick break with more news on this, what the going on on the new york stock exchange today as trading halted there. we ll have more news on that right after a break. thankshow may i help you?s list. i heard i could call angie s list if i needed work done around my house at a fair price. you heard right, just tell us what you need done and we ll find a top rated provider to take care of it. so i could get a faulty light switch fixed? yup! or have a guy refinish my floors? absolutely! or send someone out to groom my pookie? pookie s what you call your? my dog. yes, we can do that. real help from real people. come se ....