NYSE glitch sparks volatility in Berkshire Hathaway and dozens of stocks
Al Jazeera
Trading in at least 60 stocks is halted due to volatility as Berkshire Hathaway shares plunge 99.97%.
A glitch at the New York Stock Exchange (NYSE) has triggered enormous swings in the shares of Berkshire Hathaway and Barrick Gold and led to trading halts in dozens of other companies before the bourse fixed the problem.
Trading in at least 60 stocks listed on the NYSE were halted on Monday due to volatility and some stocks showed unusual outsized movements.
The NYSE, owned by Intercontinental Exchange, said by late Monday morning that it had resolved a reported technical issue and the impacted stocks had resumed trading.
Berkshire Hathaway and Barrick Gold shares were shown to be down 99.97 percent and 98.54 percent, respectively, due to the technical issue before those trades were corrected.
Berkshire Hathaway, the company run by famed investor Warren Buffett, saw its A-class shares plunge to $185.10 from Friday’s closing price of $627,400 before its trading was halted. After the shares later resumed trading, they immediately recovered all those losses and shot towards $700,000.
