Technical Issue Causes Multiple Volatility Trading Halts on NYSE; Investigation Underway
Several stocks listed on the New York Stock Exchange (NYSE) are experiencing volatility trading halts. The NYSE equities team is currently investigating a reported technical issue that appears to be causing these disruptions. The trading halts are affecting multiple stocks, and the exchange is working to identify and resolve the underlying problem to restore normal trading operations.
Stocks of several companies worth over $100 billion plummeted by 99.97% within seconds, likely due to a glitch.
Warren Buffett’s Berkshire Hathaway also experienced a 99% drop.
NYSE Equities announced on Monday that it is currently investigating a reported technical issue. The specifics of the issue are not immediately clear, but the exchange operator assured that additional information will be provided as soon as possible.
Multiple stocks listed on the NYSE, such as Berkshire Hathaway, Chipotle Mexican Grill, and Barrick Gold, were halted due to volatility. This halt in trading has raised concerns among investors and market participants.
The NYSE did not immediately respond to a request for comment on the situation. The market is closely watching for further updates and clarifications regarding the cause and resolution of the technical issue.
NYSE is continuing to investigate the technical issue related to LULD bands and will provide additional information as soon as possible.
NYSE has released an announcement indicating they are looking into a “technical glitch” responsible for the drastic drop of many stocks by over 99%.
New York Stock Exchange (NYSE) is investigating a technical problem that paused trading for several stocks, including Berkshire Hathaway, on Monday. CNN explains that the issue stemmed from a mechanism designed to prevent extreme price swings, which triggered halts for stocks trading outside preset limits.
Berkshire Hathaway’s Class A shares were briefly displayed at an unusually low price due to the glitch, causing a significant apparent loss in value. However, this reported price doesn’t reflect the actual value of the shares. Chipotle and other stocks also experienced trading halts because of this technical problem.
MarketWatch reports that many stocks were halted after Tuesday’s opening bell due to large price swings, activating circuit breakers. Despite the apparent volatility, the affected stocks mostly had slight deviations from their previous closing prices.
It’s important to differentiate between the NYSE glitch and issues on the Nasdaq. CNN clarifies that the problem doesn’t affect the Nasdaq, as confirmed by a Nasdaq spokesperson.
NYSE reports that stocks affected by the technical issue have reopened or are in the process of reopening, and the problem with price bands has been resolved.
Update:
The technical issue with NYSE Equities has been resolved.
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