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Several stocks were halted for an unknown reason at the start of trading on Tuesday. The stocks failed to show up on computers or tablets resulting in confusion across the New York Stock Exchange floor. Stocks affected included Morgan Stanley, Verizon, Nike and McDonald’s.

The companies affected resumed trading before 9.45 ET, with NYSE reporting all its systems were back and operational at 9.50 AM.

The New York Stock Exchange, like many of its international counterparts, have automatic mechanisms that block the exchange if abnormalities are detected.

During daily operations, few if any stocks listed on the NYSE are halted for volatility.

During the glitch, Morgan Stanley stocks dropped to $84.93 despite ending at $97.13 at closing on Monday.

And a stunning Bloomberg graphic captured the moment Wells Fargo stocks plunged to $38.10 before starting its bounce back towards Monday’s closing rate of $45.03.

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CNBC’s Bob Pisani said there was confusion on the NYSE floor after the technical issue was noticed.

Pisani said: “It seems like there was a systemic issue with the prices.

“I don’t know for sure but walking around, talking to the designated market-makers, and looking at prices, some stocks appeared to have opened up limit up-limit down.

“Some had incorrect prices and we’re still trying to sort through exactly what’s going on. This has been fairly rare for occurrences like this, some kind of technological issue and that’s what it looks like at the NYSE.

“It hasn’t happened in a very long, long time so I think that this was primarily not related to anybody with pricing on the floor or anybody who’s doing something. It was a technological issue.”

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Despite the issue being resolved, trader Dennis Dick warned “a lot of trades will likely be busted” after the halted stocks continued to trade on alternative exchanges.

Writing on Twitter, Dick said: “The tape is a mess on all these stocks.

“The NYSE halted most after the clearly erroneous open, but some stocks continued to trade on other exchanges for a few seconds after at erroneous prices as well.

“A lot of trades will likely be busted.”

Systematic Portfolios LLC CEO Anusar Farooqui commented: “I’ve never seen price action like this morning. NYSE clearly broke down.

“While people pontificate about AI, our core infrastructure is falling apart.”