Cisco briefly halted after circuit breaker

NEW YORK | Thu Jul 29, 2010 11:33am EDT

NEW YORK (Reuters) - Trading in Cisco Systems (CSCO.O) shares was briefly halted on Thursday, after it triggered a circuit breaker.

According to the Nasdaq's web site, trading was paused due to a 10 percent or more price move in the share in a five-minute period. Cisco was off 0.2 percent to $23.35 in late morning trading.

Thomson Reuters data shows a single trade at $26, which would have represented a more than 10 percent move. The halt started at around 10:41 am ET, and trade resumed five minutes later.

Nasdaq officials referred calls to NYSE Amex, where the trade occurred. NYSE officials were not immediately able to comment.

Other shares have also been halted due to circuit breakers of late after U.S. regulators have put new rules in place in an effort to prevent another "flash crash" in early May, when the Dow Jones industrial average fell 700 points in a matter of minutes before rebounding.

The rules, which were introduced by regulators in June for a six-month trial period, have proved controversial with some investors, who say they interfere with trading and restrict stocks from making necessary price adjustments.

Previous halts include Washington Post (WPO.N), Citigroup (C.N), Genzyme GENZ.O and Anadarko Petroleum Corp (APC.N).

(Reporting by Wall Street desk)

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