Editor’s note: This story has been updated with additional details.
Several stocks on the New York Stock Exchange experienced sudden trading halts after 9:40 a.m. ET on Monday due to technical issues.
The unexpected trading pauses were caused by a technical issue categorized under the code ‘Limit Up/Limit Down’, which is typically used to curb excessive volatility in a single stock.
The NYSE said it is investigating the reported technical issue. “Additional information will follow as soon as possible,” said NYSE owner Intercontinental Exchange Inc. (NYSE:ICE) listed.
The largest businesses shut down on Monday included Berkshire Hathaway Inc. (NYSE:BRK) at 9:50:52 AM ET and Chipotle Mexican Grill, Inc. (NYSE:CMG) at 9:44:58 a.m. ET.
Chipotle’s stock suffered a sudden and dramatic drop of 66%, plummeting from $3,097 to $1,047. Stock trading resumed at 10:21 am
At 9:49 a.m., Berkshire Hathaway’s ET shares suffered an even more severe downturn, nearly being wiped out with a staggering 99.7% collapse from $622,375 to $185.10. At the time of this update, trading has not yet resumed for the owned company Warren Buffett.
Monday’s technical glitches on the NYSE come just a week after U.S. stock markets moved to a one-day settlement period.
Other stocks affected
Other stocks affected by the sudden technical glitch on the New York Stock Exchange during Monday trading include:
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Abbott Laboratories (NYSE:ABT)
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Barrick Gold Corp. (NYSE:GOLD)
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Franco Nevada Corporation (NYSE:FNV)
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Essex Property Trust, Inc (NYSE:ESS)
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NuScale Power Corporation (NYSE:SMR)
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Destiny Tech100 Inc. (NYSE:DXYZ)
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Ault Disruptive Technologies Corporation (NYSE:ADRT)
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Nouveau Monde Graphite Inc. (NYSE:NMG)
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Bowhead Specialty Holdings Inc. (NYSE:BOW)
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Banco Santander-Chile (NYSE:BSAC)
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Logistics properties of America (NYSE:LPA)
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Xperi Inc (NYSE:XPER)
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ICL Group Ltd. (NYSE:ICL)
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Telefonica, SA (NYSE:TEF)
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Trinity Industries, Inc. (NYSE:TRN)
The technical fallout also affected trading in the following NYSE-Arca exchange-traded funds:
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Direxion Daily Aerospace & Defense Bull 3X Stock (NYSE:DFEN)
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MAX S&P 500 4x ETN with leverage (NYSE:UPRO)
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JPMorgan Core Plus Bond ETF (NYSE:JCPB)
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Global X MSCI Argentina ETF (NYSE:ARGT)
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Nationwide Nasdaq-100 Risk Managed Income ETF (NYSE:NUSI)
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SPDR S&P Semiconductor ETF (NYSE:XSD)
Read now: Koss Corp, Tupperware and BlackBerry shares move on Monday: What’s going on?
Photo via Shutterstock.
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This article Berkshire Hathaway, Chipotle, More NYSE Stocks Hit by Trading Halts Caused by Tech Issues (UPDATE) originally appeared on Benzinga.com
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