Technical problem affects NY Stock Exchange, shows Warren Buffett's Berkshire Hathaway with a 99% drop
There were almost 4,000 transactions recorded when trading was stopped due to the system failure.
(AFP)
A technical problem affected the New York Stock Exchange this Monday and caused the class A shares of companies such as Warren Buffett's Berkshire Hathaway to appear as if they had dropped 99%.
"The NYSE said in a 10:11 a.m. ET update that it was investigating a technical issue related to the limit up and limit down bands, which are mechanisms to halt stocks for excessive volatility. It is unclear how many stocks are affected by the issue," explained CNBC , which had access to the stock market's update on the situation.
It was learned that the stock exchange suspended transactions related to the affected companies. There were fewer than 4,000 transactions recorded when trading stopped. Meanwhile, trading in class B shares, which fell less than 1% on Monday morning, continued.
Although it is not known exactly how many shares were affected by the problem, the prices of the Bank of Montreal and Chipotle Mexican Grill were also affected.
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