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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.
"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."
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.