NYSE halts trading of Berkshire Hathaway after incorrectly showing the stock down 99%
The error has been attributed to a technical issue.
Wall Street had a rocky morning after Warren Buffet’s Berkshire Hathaway (BRK.A), one of the most notable American conglomerates, was incorrectly shown as being down 99 percent on the day. The NYSE temporarily halted trading of the stock as a result and said that the issue was caused by a technical error.
News of an error with Berkshire Hathaway stock was reported this morning by CNBC. The New York Stock Exchange attributed the problem to the Consolidated Tape Association, whose technology provides real-time stock quotes to many companies. The CTA reported a failure with its price bands this morning, which likely led to the error with Berkshire Hathaway’s listing.
This incorrect listing led to swift and harsh ramifications for not only Berkshire Hathaway, but Barrick Gold and Nuscale Power as well. The NYSE temporarily halted trading on all three stocks while the issue was resolved.
The incorrect stock listing was a rare but consequential error on Wall Street this morning. The problem is now resolved, but we’ll be watching to see if there is a reverberating effect as the market readjust and trading continues throughout the week. Visit our finance page for more fascinating stories out of Wall Street.
