A technical glitch on the New York Stock Exchange (NYSE) Monday morning led to multiple stock price errors and volatility shutdowns.
Yahoo Finance’s Ines Ferré reports:The issue impacted several stocks, including a 99.9% drop in the price of Warren Buffett’s Berkshire Hathaway (BRK-A) A shares.
Berkshire HathawayBRK-B) B shares, which trade at 1/1,500th the price of A shares, were down 1.1% on Monday and appear unaffected by the error, although volatility was pronounced in both issues as A shares have reopened. trading around 11:35 a.m. ET.
“A technical issue with the industry-wide price ranges published by the CTA SIP has triggered the halting of a number of stocks listed on the NYSE Group exchanges this morning,” read a statement from the NYSE sent by email shortly after 11 a.m. Eastern Time.
Price bands prevent excessive volatility or extreme movements of an individual security. The NYSE said the affected stocks have since reopened or are in the process of reopening, and the problem has been resolved.
Chipotle (GCM) the stock was temporarily halted due to volatility about 14 minutes after the market opened, even though the stock was down only 1.2%.
Horace Mann Educators (HMN) and Franco-Nevada Corp (FNV), a gold-focused royalty and streaming company, was also temporarily suspended.
Monday’s technical problem occurs a few days later disappearance live calculations for the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) for about an hour.
About a week ago, the NYSE began settling stocks in one business day to comply with a new Securities and Exchange Commission rule, as the time between a trade and settlement was reduced from two days to one day.
