After hours trading has taken over the stock market, the Wall Street Journal is reporting that Wall Street is seeing a surge in cyberattacks that are impacting companies around the world.
A senior executive at one of the largest financial institutions in the world told the newspaper that his company had received a cyberattack in its trading systems, causing the company to suspend trading at one point.
“We are having a lot of issues with trading volume,” the executive said.
“It is getting harder and harder for us to manage.”
The executive told the Journal that it had received multiple calls from employees that it would be suspended from trading because it is no longer able to execute transactions on its systems.
“There are a lot more calls to that effect than usual,” the president and chief executive of the U.S. investment bank JPMorgan Chase told the paper.
JPMorgan is the third bank to report on the cyberattack.
The department has urged banks to implement better cybersecurity procedures and “identify and mitigate any threats to financial systems.” “
The investigation into this matter is ongoing and no further action is expected,” the department said in a statement.
The department has urged banks to implement better cybersecurity procedures and “identify and mitigate any threats to financial systems.”
JPMorgan’s statement did not name the financial institution.
“When we reported the cybersecurity breach in December, we immediately identified and remediated the problem, and we’re taking the necessary steps to prevent future incidents,” the bank said in the statement.
JPMorgan said that the cyber attack is affecting “virtually all our financial information systems and has impacted our trading, reporting, and settlement systems.
As a result, we are suspending all trading in certain markets.”
It did not specify how many systems were affected.
On Saturday, a spokesperson for the Department of Justice said that there was “no indication of criminal activity or insider trading” related to the cyberattacks.
“No evidence has been presented to support this allegation, but DOJ is continuing to investigate,” the spokesperson said in an email to ABC News.
“As a result of this investigation, we have suspended trading in a number of markets, and as a result we are no longer trading on our exchanges.”
The Department of Energy, which runs the nation’s nuclear weapons production and the country’s nuclear power plants, also said in its statement that it is “aware of the recent cyberthreat against our nuclear facility and is taking all appropriate steps to address the issue.”