Greece faces a looming Sunday deadline to avoid crashing out of the eurozone and destabilizing the global economy. Chinese stocks are plunging with no end in sight. The New York Stock Exchange halted all trading Wednesday morning and United Airlines grounded flights. Both companies cited technical issues but offered little more information. Even the Wall Street Journal website suffered a significant outage. There were no early indications that any of these issues were directly related or the result of any nefarious activity, hacking or otherwise. But taken together they created a sense of national unease and general confusion. Story Continued Below “These are all reminders that we are always susceptible to outside threats, be it technology meltdowns or significant economic disagreements like what’s happening in Greece,” said Steve Massocca of Wedbush Securities in San Francisco. “And we live in a world of technology and we are very dependent on it and when it doesn’t work sometimes airplanes can’t fly and stocks can’t trade.” Taken in isolation, economists and traders said, none of the Wednesday’s chaotic action would necessarily slam U.S. markets or hit the economy especially hard. But they are all happening at once and come at a sensitive time… Read full this story
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