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1. Berkshire Hathaway stock plummet
2. NYSE technical glitch impact
3. Stock market crash Berkshire Hathaway
Berkshire Hathaway stock appears to drop 99.9% after NYSE technical glitch
A technical glitch on the New York Stock Exchange caused incorrect stock prices and volatility halts, including a 99.9% drop in Berkshire Hathaway’s A-shares. While the B-shares were less affected, other stocks like Chipotle, Horace Mann Educators, and Franco-Nevada Corp also experienced temporary halts. This issue follows the recent disappearance of live calculations for the S&P 500 and Dow Jones Industrial Average. The NYSE has resolved the problem, which occurred shortly after implementing a new rule to settle stocks in one business day. Stay updated on business news with Yahoo Finance senior reporter Ines Ferre. Follow her on Twitter @ines_ferre.
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On Monday morning, a technical glitch on the New York Stock Exchange caused chaos in the stock market, with incorrect stock prices and volatility halts affecting several stocks, most notably Warren Buffett’s Berkshire Hathaway. The A-shares of Berkshire Hathaway saw a staggering 99.9% drop in price, while the B-shares were down as much as 1.1%. Chipotle, Horace Mann Educators, and Franco-Nevada Corp were also impacted by temporary halts due to the glitch.
The NYSE quickly addressed the issue, attributing it to a technical problem with industry-wide price bands published by the CTA SIP. These price bands are designed to prevent extreme movements in individual stocks, ensuring stability in the market. Despite the disruptions, the impacted stocks have since reopened or are in the process of reopening, with the issue successfully resolved.
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Interestingly, this technical glitch comes on the heels of another recent incident involving the disappearance of live calculations for the S&P 500 and Dow Jones Industrial Average for about an hour. These consecutive events have raised concerns about the reliability and stability of the stock market infrastructure.
It’s worth noting that the NYSE recently implemented a new rule from the Securities and Exchange Commission, reducing the time between a trade and settlement from two days to one day. This change aims to streamline the trading process and improve efficiency in the market.
Ines Ferre, a senior business reporter for Yahoo Finance, has been closely following these developments. You can follow her on Twitter at @ines_ferre for the latest updates and insights on the financial world.
Overall, the recent technical glitches on the NYSE have underscored the importance of robust infrastructure and technological systems in the stock market. As investors navigate these uncertain times, it’s crucial to stay informed and vigilant to ensure the integrity of their investments.
In conclusion, while the stock market may experience occasional hiccups, it is resilient and adaptable, bouncing back from challenges with a renewed sense of stability. By staying informed and proactive, investors can navigate through turbulent times and emerge stronger on the other side.
