Berkshire Hathaway Class A shares were incorrectly shown as down 99.97% from their previous price.
NYSE experienced a technical issue on June 3, 2024 causing price fluctuations for Berkshire Hathaway, Barrick Gold, Nuscale Power and Chipotle.
The affected stocks have since reopened or are in the process of reopening, and the price bands issue has been resolved.
The issue was caused by a problem with industry-wide price bands published by the Consolidated Tape Association's Security Information Processor (SIP).
The NYSE Group, Intercontinental Exchange Inc., and Nasdaq Inc. were not impacted by the technical glitch.
On Monday, June 3, 2024, the New York Stock Exchange (NYSE) experienced a technical issue that caused significant fluctuations in the prices displayed for several stocks. Among those affected was Warren Buffett's Berkshire Hathaway. The issue led to Berkshire Hathaway Class A shares being incorrectly shown as down 99.97% from their previous price.
The NYSE attributed the issue to a technical problem with industry-wide price bands published by the Consolidated Tape Association's (CTA) Security Information Processor (SIP). The impacted stocks have since reopened or are in the process of reopening, and the price bands issue has been resolved.
Besides Berkshire Hathaway, other stocks that were affected included Barrick Gold and Nuscale Power. Chipotle was also briefly halted for volatility despite only experiencing a 1.2% decline.
The NYSE Group, Intercontinental Exchange Inc., and Nasdaq Inc. were not impacted by the technical glitch.
This incident comes after the NYSE began settling stocks in one business day to comply with a new rule from the Securities and Exchange Commission, with the time between a trade and settlement decreased from two days to one day.
The exact cause of the technical issue is still under investigation by the NYSE.
NYSE resumed normal trading after a technical issue caused price fluctuations for certain stocks, including Berkshire Hathaway and AMC Entertainment.
The issue was related to the market's main electronic stock price publisher and may have been caused by a software update that impacted ‘price bands’ or electronic guardrails limiting volatility.
Berkshire Hathaway Class A shares were incorrectly shown to be down 99% from their previous price of about $620,000 a share.
Accuracy
Berkshire Hathaway Class A shares were incorrectly shown to be down 99.97% or more in different articles.
The cause of the technical issue was attributed to industry-wide price bands or software updates in some articles, while others mentioned no clear cause.
NYSE reported a technical issue that halted trading for some major stocks and caused Berkshire Hathaway to be displayed as down 99.97%
The issue was not caused by a cyberattack, according to a senior executive at a major bank in touch with ICE
Impacted stocks have reopened and systems are currently operational
NYSE attributed the issue to industry-wide price bands published by the Consolidated Tape Association’s (CTA) Security Information Processor (SIP)
Dozens of stocks were paused due to trading outside limit up-limit down bands, including Chipotle and Berkshire Hathaway
Berkshire Hathaway’s Class A shares were listed as trading at $185.10 for nearly two hours, a price that would represent a loss of 99.97% compared to the previous closing price of $627,400
Accuracy
Berkshire Hathaway's Class A shares were listed as trading at $185.10 for nearly two hours, a price that would represent a loss of 99.97% compared to the previous closing price of $627,400
Berkshire Hathaway Class A Shares were shown to be down nearly 100% before the issue was fixed shortly before noon Eastern time.
A technical glitch on the New York Stock Exchange showed incorrect stock prices or volatility halts for several stocks, including Berkshire Hathaway A-shares.
Berkshire Hathaway A-shares were displayed as having dropped 99.9%.
The NYSE stated that a technical issue with industry-wide price bands caused the halts in affected stocks.
Accuracy
Berkshire Hathaway Class A shares were incorrectly shown to be down 99% from their previous price of about $620,000 a share.
Berkshire Hathaway Class A Shares were shown to be down nearly 100% before the issue was fixed.
The New York Stock Exchange experienced a technical glitch impacting a handful of stocks, including Barrick Gold and Warren Buffett's Berkshire Hathaway.
Berkshire Hathaway Class A Shares were shown to be down nearly 100% before the issue was fixed shortly before noon Eastern time.
The technical issue was caused by industry-wide price bands published by the CTA SIP which triggered halts in a number of stocks listed on the NYSE Group exchanges.
Impacted stocks have since reopened or are in the process of reopening, and the price bands issue has been resolved.
Trading in Berkshire Hathaway’s A class stock was impacted, while trading in the B-class shares appeared normal.
Accuracy
Berkshire Hathaway Class A Shares were shown to be down nearly 100% before the issue was fixed.
Berkshire Hathaway Class A shares were incorrectly shown to be down 99.97%.
Berkshire Hathaway A-shares were displayed as having dropped 99.9%.
