Cramer: NYSE halt shows its lost importance

Cramer: NYSE stoppage shows its lost importance
Cramer: NYSE stoppage shows its lost importance   

While the New York Stock Exchange remains relevant for U.S. and global investors alike, the three-hour halt in floor trading shows how much importance it has lost, CNBC's Jim Cramer said Thursday.

"I think if we weren't here with cameras on, you wouldn't have known [what happened]," Cramer said on "Squawk on the Street."

On Wednesday, the NYSE halted floor trading on all symbols because of an unspecified technical problem.

Read More NYSE resumes floor trading after more than 3-hour halt

"Is this place irrelevant? No … but it is important to point out that, when we looked at the market share at the NYSE 10 years ago and this had occurred, I think we would have had a major decline in the market and we would have had a lot of conspiracy theories."

Cramer said that if this had happened 10 years ago, "we would have had a major decline in the market, and we would have had a lot of conspiracy theories."

A trader waits for news while working on the floor of the New York Stock Exchange following a halt in trading in New York, July 8, 2015.
Lucas Jackson | Reuters
A trader waits for news while working on the floor of the New York Stock Exchange following a halt in trading in New York, July 8, 2015.

The major U.S. indexes closed sharply lower on Wednesday, with the S&P 500 and the Dow Jones industrial average dropping below their 200-day moving averages. On Thursday, U.S. equities were up.