A technical glitch on the New York Stock Exchange on Monday morning showed incorrect stock quotes or freezes in volatility on several stocks, most notably a 99.9% drop in the price of Warren’s Berkshire Hathaway (BRK-A) A-shares Buffett.
Berkshire Hathaway (BRK-B) B shares, which trade at 1/1,500th the price of A shares, fell as much as 1.1% on Monday and appeared largely unaffected by the glitch, although volatility in both issues had been pronounced. when A shares reopened for trading around 11:35 a.m. ET.
“A technical issue with industry-wide price ranges published by the CTA SIP this morning resulted in the halt of a number of stocks listed on the NYSE Group exchanges,” said a statement from the NYSE issued shortly after 11 a.m. Eastern Time. email was sent.
Price bands prevent excessive volatility or extreme movements in an individual stock. The NYSE said the affected stocks have since reopened or are in the process of reopening, and the issue has been resolved.
Chipotle (CMG) stock was temporarily halted due to volatility about 14 minutes after the market opened, even though the stock was down just 1.2%.
Horace Mann Educators (HMN) and Franco-Nevada Corp (FNV), a gold-focused royalty and streaming company, were also temporarily halted.
Monday’s technical outage comes days after live calculations for the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) disappeared for about an hour.
About a week ago, the NYSE began settling stocks on one business day to comply with a new Securities and Exchange Commission rule that reduced the time between a trade and a settlement from two days to one day.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X @ines_ferre.
