A glitch during a software update early Monday led the New York Stock Exchange to erroneously halt trading on about 40 stocks and display odd trades showing a 99% drop in companies including Warren Buffett’s Berkshire Hathaway.
About a dozen trades in Berkshire Class A shares went off at $185.10 around 9:50 a.m. The stock closed Friday at $627 400. NYSE said any trade between 9:50 and 9:51 at or below $603,718.30 will be canceled. NuScale Power Corp had a similar glitch, with trades that printed at about 99% below the prior price.
“I would assume that those bad trades will be broken,” said Jonathan Corpina, senior managing partner at Meridian Equity Partners, who typically works on the floor of the NYSE. “I’m more curious how did this happen? I understand what happened, but I want to understand how?”
Source: Digital Coin News (digitalcoinnews.net)
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