the country. just over an hour ago, the faa slowly started lifting the stop. united said it is recovering operations after suffering a network computer glitch, and the airline is beginning to restore regular flight operations. but with some 3500 flights grounded this morning, the delays could last throughout the day. these are images take a look captured of the scene that unfolded in some of the airports. massive lines, including at lax where the line stretched all the way outside the airport. and runways were backed up including at chicago's o'hare where this video shows a united plane idling on the runway and many others grounded at the gates. joining me now, nbc's john yang and tom costello who covers aviation. tom, i want to start with you first because we need to explain the problem and how this all started. >> this all happened sometime between 7:00 and 8:00 a.m. useeast

coast time. united airlines reported it had some kind of a computer glitch and they had to ground all main line flights. the subcarriers were not affected, but the main flights were affected. at one point we had 3500 flights affected involving main line operations worldwide. we have since seen a recovery and about 10:00 east coast time united said they were regaining their connectivity that operations were resuming. they were also offering waivers who couldn't catch their flight because of these backups or maybe missed connections. we are seeing dramatic lines as you are seeing there on twitter, on video, on photo, from minneapolis, from denver from lax, from newark. if you can imagine the major united airlines hubs those are going to be affected today.

those are o'hare houston, newark, dia -- denver in other words -- san francisco, lax. it is at the moment a situation where the recovery will take some time and chances are it will take most of the day, tamron. >> and tom, did a similar thing happen this time last year? >> united airlines has struggled, really with connectivity issues and computer glitches since their merger with continental airlines. we did have a problem just about five weeks ago or so and that involved, i believe, a reservation system glitch. this was described to us as a connectivity issue, and it certainly seemed to be affecting their main line computers, not just their reservation system. >> tom, let's stand by skpiland i want to go to john yang. those lines are startling to see, john. >> reporter: it's also people showing up and not really

knowing what's going on, haven't heard the news haven't gotten the word that united is having problems. let me show you the lobby of terminal 1. it's actually not that bad right now. it doesn't look worse than it does on any midweek business day, certainly not what it can look like during a snowstorm, during a thunderstorm during the holiday period. we can't see what's going on on the concourses what's going on in those gate areas where people have been waiting, have planes delayed, flights delayed. at those customer service centers, sensing they're going to get busted later on because they're flights are so late trying to rebook and fix their travel right now. we don't know what that looks like. it does look fairly normal here but all along the line for united, this is going to be a problem. all the flights leaving here late are going to arrive late and they make up other flights, so those flights will be late. this is going to be a cascading issue all through the day.

tamron? >> tom, let me go back to you. again, because this is a heavy focus on united airlines and it's their problem here with this computer glitch. they've taken a lot of pr hits as of late tom, from people who were diverted to canada and were forced to stay at that military barracks and a couple other incidents that were reported lately in the news regarding this airline. >> yeah united has not had an easy run of it the last five weeks or so. they had that diversion, a flight that was headed over to europe had to divert to goose bay, canada and people spent the night in cold army barracks without heat and then there was another diversion, a flight that was inbound to the united states diverted to northern ireland because of a disruptive passenger, and i believe it was in belfast, people had to sleep overnight on the floor in the belfast airport. and now this. every airline has -- when you're running an operation this big, and this is clearly one of the biggest airlines in the world after its merger with continental airlines you're going to have problems and you're going to have issues but clearly the problem this time

this morning, today is that this particular issue was involving the entire airline, the entire operation domestically as well as internationally, so that's more than just an isolated flight to belfast. this is a major inconvenience. and last point here tamron this is going to cost united airlines a boatload of money today when they have planes sitting on the ramp like this for so long. >> and it will cost passengers as well those business travels, other people who have planned vacations and other issues they may encounter, folks out of school with their kids traveling, too. we know there has been a lot of talk of hacking. there was one individual. his claim was never verified that he was able to hack into an unknown airline computer system through entertainment. there is no indication this is something more regarding someone or an organization trying to get access to united's computers, is there? >> at this point we have no indication that this was something nefarious, but that is

something we'll be asking and something united airlines will be asking as well if they don't already know what has happened here. i suspect they already have a pretty good handle on what the problem was today. >> thank you, tom. also developing we're learning new details about the gunman. an undocumented immigrant with the gun he used to kill a 32-year-old woman on san francisco pier a popular location in that city. the gun belonged to a federal agent with the bureau of land management and that it was stolen from a vehicle. but they could not say how francisco sanchez obtained the weapon. he said he found it and it went off accidentally when he picked it up. he said he found it wrapped up in a t-shirt. sanchez remains behind bars this morning on $5 million bail after pleading not guilty yesterday to the murder of kate steinley. sanchez was released just two

months ago on an old drug charge even though he had been deported to his native mexico five times and was suspected of being in the united states illegally again. his case is now at the center of a political firestorm over illegal immigration and san francisco's status as a sanctuary city meaning it doesn't notify federal agencies about people it appearrehends who are in this country illegally. the san francisco mayor is criticizing sanchez's release in april while others are blaming local and federal officials. >> he's in custody, he serves a sentence. why isn't ice right there at the prison door escorting that person back to his country of origin? >> as i said there was an outstanding narcotics warrant, and bureau of prisons, as we would have done the same thing, we seek to resolve all criminal warrants before we go forward with removal.

>> he's git criminalot a criminal warrant, but he was released into general society to commit a murder. does that make any sense to you? because i tell you, it doesn't make any sense to the american public. >> msnbc's scott comey joins us from los angeles. as i mentioned, diane feinstein among the senators who say this system needs to be re-evaluated but in 1995 when she was mayor of san francisco, she actually was part of the passage of the legislation that allowed for san francisco to be a sanctuary city. at the time this was to help people from el salvador and guatemala. >> that's right. but it's an issue not so much the sanctuary city ordinance but how it's implemented and the policies and those have changed over time really culminating in the sheriff's department basically no longer honoring these detainer requests from ice insisting on warrants.

issued by a court, isis said that's impractical. there's been really sort of a lack of communication as a result and in this case ending in tragedy. >> what are lawmakers there proposing and how fast might we see a change? what are the levels of bureaucracy, quite honestly that will have to be wiggled through to change what by many accounts is a stunning position in that city? >> well that's still being worked out. mayor ed lee of san francisco defended the ordinance itself and the policy itself but said there needs to be a review said that it was never meant to protect repeat offenders, violent criminals and the like. obviously it did not work properly in this case. so he's talking about a review but there's a lot that has to go into creating that review a lot of different parties that have to talk to one another, questions about whether state law was violated in this case. so this is going to be

complicated and complicated even more by the fact that tensions in this whole area of immigration and illegal immigration are high. >> clarify this. you have the mayor, as you pointed out, ed lee, defending this sanctuary city status but also saying it needs to be reviewed. what does that mean? what would a review entail? and does that ultimately mean some type of change? i don't understand how you call for a review and still defend it. >> you defend -- not to put words in his mouth or speculate on what he means here but he's defending the idea of a sanctuary, a place where immigrants can be free to cooperate and talk with law enforcement, but clearly this wasn't how it was designed to work. it wasn't designed to protect people like francisco sanchez. so how do the agencies talk to each other without violating this principle that san francisco has had in place for more than 20 years? >> thank you very much. hillary clinton is now the

latest 2016 candidate to weigh in on this case in her first national interview since launching her campaign. clinton said san francisco made a mistake in not working with federal authorities to deport francesco sanchez. the democratic front runner also addressed several issues that plagued her campaign and nbc correspondent kristin welker has more on this interview so many people are talking about. kristin? >> tamron good morning. as hillary clinton revs up her campaign, she started to do television interviews. in the first one, she raised topics from her e-mails to questions about trustworthiness, and she made a play for all the hispanic voters by trying to link all republicans to donald trump. >> i'm asked that question everywhere i go. >> reporter: hillary clinton drawing battle lines on immigration in her first television interview. speaking from iowa on tuesday, clinton slammed donald trump for calling many mexicans rapists and criminals.

>> i'm very disappointed in those comments. i feel very bad and very disappointed with him. >> reporter: and clinton lumped the entire gop field in with trump. >> they are all on the same general area on immigration. they range across the spectrum of being either grudgingly welcome or hostile toward immigrants immigrants. >> reporter: republicans fear trump's comments will be a drag on the entire party and will cost them crucial latino voters. jeb bush whose wife is from mexico fired back saying hillary clinton will say anything to get elected, and her flip-flop on immigration proves it. clinton declined to take on her biggest democratic rival. >> i always thought this would be a competitive race. >> reporter: when asked about vermont senator bernie sanders,

she puntded. and spoke of defense that >> people should and do trust me. >> reporter: and her stint as secretary of state? >> everything i did i went above and beyond by making sure that if the state department didn't capture something, i made a real effort to get it to them. >> reporter: amtamron, as you pointed out, clinton also made headlines when saying san francisco made a mistake by not making a point to deport francesco sanchez, the immigrant who randomly shot a woman last week. all of these will be addressed in campaign 2016. >> let me bring in my panel. john, i'll start off with you. by all accounts for the republicans to win this general election, you need 40% of the hispanic vote.

i know kristin said immigration would be a major headline in the debates. i think we always expected that. but the tone it seems, for your party is being heavily set by donald trump and how he's choosing to handle immigration. i want to play for you a brand new interview with donald trump. our own katie terr just spoke with him and here's what he said about crime and mexicans. >> don't try to convince me that there's no crime, that it's wonderful. the people that are being forced in -- and these aren't just mexican people -- the people that are being forced mexico doesn't want people, they're forcing them into our country, and we're taking them and putting them in our jails and our hospitals, and we're paying them money through different sources. it's a disgrace. don't tell me about safety. are you trying to unjustify safety at the border? i don't think so. >> i'll ask you this time around about donald trump. >> well listen i think jeb bush is the front runner right now and i think he has a really

good message on immigration, which is we need to get more people legalized and deal with the border issue, which i think is an issue for voters especially if you look at the sanctuary city in san francisco. you yourself said this policy is not in step with what the american people want. >> but who brought that issue up? did jeb bush lead the conversation on sanctuary city or did donald trump lead the way for your party on this? because prior to donald trump dragging this in and by the way, the family of that young victim don't want her to be positive politicized. is he now the defacto leader of your party on immigration? does he have the momentum? >> i think jeb bush is the leader in the polls, and i think he'll be our nominee unless it's someone like john kasich. anyone who is the nominee understands you need to gather votes from all people in the

country, including hispanics, and you have to be sensitive to this voting block. donald trump is getting a lot of play because the media loves donald trump because he says outrageous things. >> the media poll is not high affected in new hampshire where he's in second place. how do you blame the media for that because we're not sneaking in and being polled. >> there are a lot of people early on who played big. michelle michelle bachmann who was big a few years ago. donald trump is the one who says "you're fired." is he the leader of the party? i don't think so. >> and being fair to john here we've seen other people like newt gingrich who did well early on in the debates to herman cain 999 -- two johns.

we've kind of seen this game before but in the gop rallied behind the establishment candidate, mitt romney who did go on the loose. >> here's the point. for mitt romney to get the nomination, he had to go so far extreme right in his point of view, he even advocated voluntary deportation of undocumented workers where you actually oppose certain types of contraception and planned parenthood. john's point about donald trump not being a nominee is not the issue. the more important point is the efforts that play to the extreme right wing of the republican party has dominated the republican agenda whether it's donald trump or ted cruz or mike huckabee or ben carson. the demonic rhetoric against the gay and lesbian community that you hear against mexican americans is all designed to play to the far right of the lepp can republican primary. >> in all fairness if jeb bush has a donald trump problem, does

hillary clinton have a bernie sanders problem. 10,000 people showing up in some locations. democrats are very strong for independence. they think she has an honesty and trust problem. i want to show you how she responded to the question in her first television interview. >> i think when you are subjected to the constant barrage of attacks that are largely fomented by and come from the right -- >> but do you bear any responsibility for that? >> i can only tell you that i was elected twice in new york against the same kind of onslaught. i was confirmed and served as secretary of state. this has been a theme that has been used against me and my husband for many many years. >> would you vote for someone that you don't trust? >> well people should and do trust me. and i have every confidence that that will be the outcome of this

election. >> here's the reality of it. when you look at the polling, and john knows this because he's been around polling like i have. everyone does well before they declare they're candidacy to when they get in the ring. obviously she's taken a hit on that, but when you trust her to fight for you, that's when she does well. she is running strong among republicans and she's against democrats. there is going to be a race for the democratic nomination and i'd much rather have the democratic party debating issues like how to raise the minimum wage, how to build a strong middle class how to pay for college than watching republicans engage in the debate which is nothing more than just code words for racism against mexican americans, anti-immigration debate and other types of hate-mongering rhetoric that has been the mainstream of the republican party. >> first of all, jeb bush doesn't have that kind of record. jeb bush has a very inclusive message. >> he's at 19%, john.

>> well he's going to win the nomination. the second point here is hillary clinton does not have a bernie sanders problem, hillary clinton has a hillary clinton problem. if you saw this interview last night, it was a disaster for her. i thought she was very defensive, i thought she was very uninspiring. i think the fact the american people don't trust hillary clinton is the whole show and that's why she lost to obama. >> the republicans wouldn't want her polling numbers. she's leading democrats by 40%. >> she's leading because she's running against bernie sanders and she's losing ground to bernie sanders who is a socialist and introducing terrible things. >> you can look at it both ways as far as being lackluster or inspiring to you, i don't think you would be the demo she is trying to inspire. meaning you are gop. she is looking to inspire her base as it seems, and not the

base of the gop. >> she is not inspiring her base. >> we have so much time to talk about this and there are so many new sound bites from donald trump during his first interview that we will be playing later. >> in fact i'll trump his money to hillary clinton. >> the good news is for my party, the republicans aren't listening to you. the bad news would be if my party was listening to you. coming up could bill cosby's admission in a recent deposition to giving women drugs before sex lead to perjury charges? plus i'll talk live to beverly johnson, one of his accusers, about this development. this photo of paula deen was made in 2011 and it was tweeted and deleted from her account yesterday. what she's saying about her son being in brownface. join the conversation on line.

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there is fall out this morning over the newly released admission from bill cosby that he gave drugs to women that he wanted to have sex with. these women's lawsuits that led the judge to unseal the court document may lead the judge to open all of cosby's testimony. he is making contact with all 13 women involved in the case to make sure they're okay with them revealing the deposition.

stephanie goss has more on the public backlash. >> one of the most successful tv shows of all time is now almost impossible to find on tv. the network announced it will pull all reruns of "the cosby show" after a judge released documents where he said he gave drugs to women for sex. cosby has potentially opened himself up to perjury charges with statements made in the deposition, which could carry a sentence up to seven years. >> anything he said in there that is a lie and material to the case could be used in a perjury prosecution. >> reporter: comedian and tv producer reacted to the accusations. maybe now more people in show business and all around our country will stand up and tell the people he attacked that we

support you and believe you. but others like whoopi goldberg are withholding judgment. >> we're innocent until proven guilty. he has not been proven. >> reporter: in the nco documents, the plaintiff's lawyer asks cosby about seven prescriptions for qaaludes that he bought in the 1970s, a now outlawed sedative. when you goatt the qaaludes was it in your mind you were going to use them with young women to have sex with? yes, he replied. there are at least 36 accusations that stretch back to the late '60s. many of them are victims who said cosby drugged and assaulted them. >> bill cosby raped me. >> he made me a victim. >> reporter: cosby's representatives have continually denied the allegations and there have never been criminal charges against him. the judge released the documents which normally would remain sealed following a request from the associated press. arguing that cosby gave up his

right to privacy when he used his public persona to give public speeches about morality like this one in 2004. >> i'm talking about these people who cry when their son is standing there in an orange suit. where were you when he was 12? >> and that was stephanie goss reporting. a spokesperson for cosby told nbc news that there is no comment as of right now about the deposition. again, he has never been criminally charged and his representatives have repeatedly denied the allegations against him. joining me now is supermodel beverly johnson. she said in a private meeting with bill cosby back in the '80s in his home he gave her a cappuccino that she believes was drugged. she writes about her encounter in her book "the face that changeverly, thank you for joining us. >> thank you for having me. >> at the time you went public with your story, you were i believe, the most famous face to come out and explain or detail what happened to you in your encounter with bill cosby.

when you heard his deposition had been released and the admission in it by bill cosby, what was your reaction? >> well i wasn't surprised at all. i do believe that the truth always finds the light, and so for me i'm really happy for the victims in the sense that they feel a sense of validation and that we can move on to the bigger conversation, and that is violence on women and of women finding their voice. because i found my voice in the sense that i wrote a chapter about this encounter with bill cosby in my memoirs with simon & shuster, and the editor at the time said it would not be in the book. and i finished the memoirs and then i did my vanity fair statement after all of these women came out so courageously and told their story.

i thought that my conscience and my principles i had to tell my story, and i did that in vanity fair. and once all that happened simon & shuster said yes, we do want to add that chapter into the memoirs. it's not a book about bill cosby, but i think it's an important chapter in the book. it just goes to show you how things changed. now the women who have been telling their story for decades, now their voices are being heard. >> and that's the thing, you know when you came out, i remember very clearly there were many people who applauded you, called you brave, but there were others who felt you were taking on a black icon that you were piling on bill cosby, and you talked about the fact that you have a daughter and you have family members, that it was very difficult for you to come out and tell after those years what happened. >> oh it was very difficult. and it's still very difficult. i just had to -- i have my own

principles and i have my own conscience. i have to wake up in the morning and look at myself in the mirror and know that i am the person i think i am. and i have to use my voice and i expect the same for my daughter and i have a four-year-old granddaughter that if she was ever in this predicament that she would use her voice. i think that's the message. as women, we are taught to be voiceless. and i think it's time now that we use our voices also and that we are heard, and that we are defended when things like this happen. >> let me ask you, though for those who still believe that somehow bill cosby has an explanation and somehow this deposition is not the clear picture despite dozens of women like yourself who have come out and told very similar stories, for those who still believe that perhaps this is some great conspiracy against him, what do you say at this point?

>> well, you know there are always going to be those people that are not going to believe you. that's just life. there is nothing you could possibly do that would change their minds. but it's great that we are now having this conversation about violence on women. it's an important conversation, and people are getting it now. those 49 women that have come forward with their story and how courageous they are, that people are finally listening and saying, okay i got it. i got it. i believe them. and it's sad that it took this long, but, you know we're at that point now. so we have to in some way, get some good out of this horrific situation. >> beverly johnson, thank you so much for joining me. we greatly appreciate it. thank you so much. we look forward to reading your bock. coming up new fallout for subway's long-time spokesman -- or pitch man jared fogle after

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now to the latest on the investigation of jared fogle. fogle suspended his relationship with subway yesterday after agents raided his home as part of an investigation. gabe gutierrez is in xizionsville indiana. we know jared fogle has not been charged. have we heard from his attorney an update there? >> reporter: jared fogle has not been arrested he has not been charged. he is cooperating fully with law enforcement, and law enforcement officials tell nbc news that the search in his house was relate

to do a child pornography investigation involving a man who used to work for fogle. >> hi i'm jared the subway guy. >> reporter: he's one of tv's most recognizable pitch man, but today jared fogle is no longer the face of subway the restaurant chain suspending ties with him after fbi agents and state police raided fogle's home tuesday, removing electronics and stunning neighbors in this indianapolis suburb. >> i'm really shocked. and i want to know more for sure. >> reporter: law enforcement officials tell nbc news the search was related to the investigation of russell taylor the former executive director of fogle's non-profit the jared foundation. taylor is in jail facing child pornography charges. he's not yet entered a plea and his attorney declined to comment to nbc news. court documents allege that police recovered more than 400 videos of child pornography at taylor's home months ago, including a thumb drive, where the vardjared foundation was listed

in a file name. it's not clear, if any, connection that jared fogle has with taylor. in a statement, they said subway and jared fogle have mutually agreed to suspend their relationship. jared continues to cooperate with authorities and he expects no actions to be forthcoming. jared fogle says he lost 200 pounds by eating subway sandwiches. he built their image as a healthy place to eat. now the chain has removed all references to jared from his website. >> i think it's still a problem even if he's found to have no involvement. because once it's put out there, the perception stays and the consumers aren't easy to forget. >> reporter: jared fogle says

his -- jared fogle's attorney says he is cooperating with authorities. he has not been charged with any crime. hillary clinton's first tv interview as she goestalks about immigration. >> they don't want to provide a path to citizenship. >> reporter: >> senior he had mark murray is on live next with us. a "sextortion" theme where a man would send out explicit photos. it's one of the stories around the news nation. all this stuff off. dish issues? improved cascade platinum... powers through... your toughest, starchy messes... as if your dishes were non-stick. cascade. now that's clean.

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. we're following some breaking news right now. all trading has been halted at the trading houses. we're going to go to cnbc to see

what's taking place, but right now all trading has been halted on the new york stock exchange. let's listen in. >> we're trying to get things straight again and see how the trading in various other venues continues. >> the viewers are writing in and saying if i had an order i submitted, what happens when it's in limbo and something like this takes place? does it get canceled at the end of the day? does it depend on the nature of the glitch? or does it get processed whenever the exchange reopens? >> ordinarily it depends on the nature of this glitch, but if it's in limbo, that's exactly where it would sit. and so you -- if you can't get the reaction it's not always easy to cancel it so when the system resumes, there's a high probability that it might be executed, or there may be a brief period of time before they announce we're about to resume and it would functionally be a period before the reopening,

which then if the systems were working might allow you to cancel it, to change your limit, do whatever. >> historical precedence for this. have you ever seen anything quite like this before? >> sure. i've been doing this 50 years. >> believe me i'm aware. >> no you have these problems. the more dependent on a system you become the higher the risk but we've had those problems way back in the old days when the biggest system coming into the building was a telephone company. if you had a telephone outage they would cause a pause and say, we're not getting any communication. the only outage before you guys came along was a ticker tape operation, so i've seen market pauses before. >> you want to think we've moved past ticker tape technology. >> it was good for the parade on

saturday, anyway. >> i'm glad you can laugh. what should we expect when we do resume trading here at the nyse. any impact that we could see as volume ramps back up like you've seen in the past? >> i don't think it would be anything pricewise dramatic. hopefully there will be no major news event between now and the opening, whenever that is, and hopefully there will be a little brief period where people can size up what's going on find out what's actually happening with any orders that are in limbo and get trades out. so unless there is a news event in between, this time out should not change the direction of the market or do anything else. >> for its part nasdaq has told our patty dumm it says it continues to trade nyse listed stocks. how would that work, art, in the face of this halt here? >> those who feel they need an

immediate execution will try and avail themselves of nasdaq or any other venues that are open. i think a lot of other people unless you feel pressed, and i don't want to denigrate nasdaq but they're trading nyse-listed securities so they're not in the prime market for that. if we were up and trading nasdaq's securities i would say the same thing about the nyse. people might be a little hesitant wondering whether the markets will be liquid enough and deep enough. certainly they're trading, but you don't have a market maker book necessarily, right handy. so i think the bigger the mutual funds and others will probably hold back waiting for a deeper market in which to trade rather than be disrupted by placing a $5005

500,000 share order that would be disrupted. >> a huge wrench thrown into our market day. we were discussing china, greece various headlines regarding the iphone when about 12 minutes ago or so a big whoa from the trading floor here and all stocks at the nyse were halted for trading. we're trying to find out more about what happens next. our bob losani is on the floor. >> we have more. it says we're currently experiencing a technical issue we're trying to resolve as soon as possible. we'll provide updates as soon as we can. we'll do our best for a swift resolution. communicate thoroughly and transparently and assure a smooth reopening. here you see what you might call the tech nerve center here. that's the ramp in between the stock exchange the main floor, and what we used to call the

garage next door and you can see the officials gathered around trying to get the market back up. i don't have any more on that but as you can see here just turn around and very simply on the floor here these are the panels and these are the stocks that trade at all the panels. macy's trades here travelers trades here goldman trades here. what you can see is nothing at all moving. there are no quotations at all down here that you can see. there may be something trading off the exchange. once in a while you'll see a cell. but everything is potentially halted here. we're still waiting on the word of when the market will open. it appears to be a technology issue, not any issue from the outside. again, we're trying to get more information. as soon as i can get the officials here to give us another statement, i'll be back with you. >> we've been listening in to our live coverage at cnbc of

this technical glitch being blamed for the floorwide training hall. cnbc contributor ron is standing by. ron, thank you so much for joining us. first question many assumed there would be a backup system in play when you're talking about the epicenter of our economy, in a sense. >> there is a redundant system but that's usually reserved for something like 9/11. after 9/11, the new york stock exchange built a parallel exchange away from new york city and there are redundancies built into the system but clearly they're having rather severe technical difficulties at the moment and as bob losani just reported probably related to technology. it is interesting to note united airlines had a computer outage today that grounded 3500 flights for over an hour. i'm operating on speculation here but you do have to wonder

if that raises concerns about whether this is kind of a cyber security issue of some sort given what happened with united this morning. there are fundamental challenges facing the market right now. china's stock market was down another 6% last night despite massive efforts by the chinese government to intervene and support stocks. it didn't work. it doesn't appear that this is that type of fund mental reaction. the market has been down all morning anyway. this does look like a technological problem but the new york stock exchange has not given an explanation as to exactly what's wrong with the system. the halt began at 11:32 eastern time. we've had this come up in the past where glitches have occurred systems have failed for a period of time that led to trading halts both at the new york stock exchange and the nasdaq. it's relatively rare, but clearly something is going on with the technology that has yet to be -- maybe they have defined it but we certainly don't know what it is. >> to your point, you bring up the united airlines. we started off our show the

breaking news united airlines. they still have not been able to provide an explanation for their computer glitch and here within the same hour of the update on united, we are talking about the new york stock exchange. there's been no connection noted. we don't want to jump to any conclusions but we would be foolish not to talk about two huge conglomerates. the new york stock exchange and united airlines both within a few hours suffering technical glitches here. but talk to us ron, of the process here if this continues very long. what happens? what is the protocol here at the new york stock exchange? >> well it's funny because it's not the typical -- there's no preset protocol necessarily because you can't trade if the systems are down. i'm starting to see the markets move a little bit here on your screen. i don't know if they have begun to reopen trading. but the protocol to dealing with

technical or system outages is such that they just work feverishly to get the market trading again and fix whatever glitch might exist in the system. now, when it comes to a fast-falling market or something that's fundamentally driving the market down, there is a system of circuit breakers designed to slow the descent of a market that's in freefall. those are two separate issues. >> absolutely. and ron, please timelinewise i recall not terribly long ago that there was a glitch of some sort and it was blamed on an employee who had done something wrong and we saw a temporary halt at that time. >> if you're talking about the flash crash back in may of 2011. >> yes. >> okay. that came from -- that was the result of multiple issues. one was a large sell order that was put in by a mutual fund company selling billions of dollars of s&p stocks and then it was followed on by some other

activities. in fact the individual in london who was at least partly responsible for additional selling was arrested a few months ago for tampering to a certain extent with the market. and then it was kind of a cascade of events the dow fell as much as 1,000 points in 30 minutes from down 300. within that 30-minute period it had gone down 1,000 and rebounded to minus 300. we called that a flash crash. that was partly fundamental, partly systemwide problems. stocks that were trading at $40 briefly traded for a penny. it was a massive kind of break in the market structure. that doesn't seem to be what we're having here. this seems to be more like an issue that is more germane to the technology that is used to trade stocks at the new york stock exchange. at least as far as we know. >> quickly, i just want to talk you've got people listening in or watching who have money in their 401(k) money invested and they quickly want to know what this means for them.

>> well at the moment nothing. we were having a bad day anyway based on the big decline in china about the uncertainty surrounding greece and the ongoing debt negotiations between greece and the european union. if this is purely just a technology glitch and something that the new york stock exchange will ultimately have to address in greater detail then no i mean it's not the type of thing where you take long-term money out of the stock market and run the other way. never really a good idea to sell in a panic. we need to deconstruct this event and see what it is. i'm sure people will raise the issue given united airlines and the new york stock exchange today this is in any way related to cyber terror. that will be something that's examined. i'm not saying it is but certainly it will be an issue. >> but a cyber attack of that kind exposes the vulnerability if you have a technical issue that can halt the new york stock exchange for 30 minutes. >> listen i do a lot of

conversations with chief financial officers of major corporations corporations. every single day a company is dealing with intrusion by bad actors. every single day every major american corporation sees some bad actor in their system and even the u.s. government sees this obviously trying to either disrupt systems, trying to steal information, trying to map the employment scheme of the entire u.s. government. sometimes it's a state actor, sometimes it's somebody who just wants to wreak havoc and sometimes it's somebody trying to steal money. yes, all these things will be examined. again, we don't know that that's the case with respect to the new york stock exchange or united airlines for that matter. >> just an update the new york stock exchange, as i understand it we've not received any information that trading has resumed. the nasdaq though is trading normally as we understand it. i'm looking at your team's coverage over at cnbc to get any indication, but as it stands right now, ron, trading has been suspended on all securities apparently orders open orders will be cancelled as well here.

but that is at least the latest information. we have -- let me get you to hold on ron. we also have brian sullivan. he joins us now from cnbc. we heard a brief statement read by one of your colleagues from the new york stock exchange. what's the latest there? >> reporter: the latest is what you just said open orders will be cancelled. what that means is if you're at home and you want to buy some stock in ibm and you hit buy, if you have not executed that order it will be cancelled because as you have said all floor trading is right now halted at the new york stock exchange. it has been since 11:32 eastern time today. now, to the point we just mentioned about the nasdaq the nasdaq is trading. the nasdaq actually does trade some new york stock exchange stocks. i don't want to get too technical here it's called tape a. those are trading as well as there are electronic trading systems which are working right now. the new york stock exchange still keeping us in the dark tamron, about what may have happened here. but i do want to remind our

viewers and your viewers that back in august 2013 the nasdaq suffered a three-hour outage as well. so to your earlier guest's point about computer system issues this is not just an nyse problem. we have seen this now twice in two years, both with the nasdaq and now with the nyse. >> yeah and brian, it's interesting as well that you point the information or the limited information that we're receiving from the new york stock exchange, as you put it keeping us in the dark here. we're also at this very hour waiting to get more information from united airlines. there's no indication that these two events are connected in any way. but in the course of a few hours, this major airline, some 3500 flights impacted by what we're told was a computer or network computer problem and now on the other end of the spectrum as it relates to our financial -- finances here, the new york stock exchange, not yet ready to give us more information on what happened with this technical glitch. >> reporter: obviously it's going to be easy to speculate

here tamron about what may or may not have happened. listen, things do happen. a couple of years ago there was a trading firm called night trading group out of new york city. they basically blew themselves up with a bad software installation, caused their whole systems to go haywire. all these bad trades went through and the firm went under because of that. we don't know exactly what happened here but i think your point about united and the new york stock exchange is well taken. regardless if they're connected, regardless if there is some kind of a third party actor here because it's obvious -- you think about what may be going on this does not do a lot to instill confidence in the massive computer system backbone of the united states. >> absolutely. we'll continue to follow the developments here. as i mentioned at the top of the hour united airlines was attempting to get things back in working order as a result of a network computer problem with its airline computer system across the board. we saw massive lines outside of

l.a.x. airport, chicago o'hare's airport, people scrambling to get information as to what was going on. and now here we are at around 11:30 eastern time following breaking news at the new york stock exchange where trading has been placed on a halt. let me go to my colleague, chuck todd. he is in for andrea mitchell. chuck, you're picking up our coverage. >> i am, tamron. obviously we've got a ton of breaking news and a brand new exclusive interview with donald trump that my colleague kayty tur just finished. of course we're following this breaking news having to do with the stock market as tamron just noted. it's been a bad day to be relying on technology whether you're the stock market or whether you're somebody flying united airlines today. i believe we still have brian sullivan over at cnbc with us. brian, explain exactly the state of technology at the nyse. how vulnerable are we to

watching our financial markets get frozen like this? >> reporter: well, we're finding at least part of the financial market frozen today, chuck. thank you very much for letting me come on here. but i want to remind your viewers, this is not all the financial markets. the nasdaq is still trading, although they'll probably take some action because when one market is down, they don't want to go out with another market fully open. there are electronic markets that are trading here. what has happened and the little that we know chuck, is this. the new york stock exchange came out with a statement a couple of minutes ago saying there was a, quote, gateway connectivity issue with some of its servers. basically the pipes that lead from some computers to another appear to be having an issue, which has halted the trading in all new york stock exchange stocks that are traded on the floor. now, this is new. the reason i'm distracted here guys, is it looks like the wall street journal's website is also down right now. if you go to wsj.com, a