NYSE glitch sends Berkshire Hathaway shares down nearly 100%
The New York Stock Exchange on Monday said it is investigating a technical problem that has Class A shares of Warren Buffett’s Berkshire Hathaway seemingly down almost 100%.
The issue prompted trading to be halted in Berkshire’s A-class shares, along with about a dozen other companies, including Barrick Gold and Nuscale Power, both of which also showed faulty and steep declines. Trading continued in Berkshire’s B-class shares.
The trouble arose shortly after the opening bell, impacting the likes of Chipotle Mexican Grill, Abbott Laboratories and other stocks.
The NYSE said in a 10:11 a.m. Eastern Time post on its website that it was assessing the issue related to the index’s so-called limit up-limit down bands, mechanisms that control when stocks are paused for volatility.
Nearly an hour later, the exchange followed with an update attributing the problem to a technical issue linked to the limit bands and noting that the glitch had halted trading in a number of stocks.
“Impacted stocks have since reopened (or are in the process of reopening) and the price bands issue has been resolved,” NYSE said.
