NYSE technical glitch prompts trading halt on Berkshire Hathaway shares

3rd Jun 2024 15:57

(Sharecast News) - The New York Stock Exchange announced on Monday that it had halted trading in a number of stocks after a temporary "price bands issue" caused certain share prices to tumble erroneously.

"NYSE Equities is currently investigating a reported technical issue. Additional information will follow as soon as possible," the exchange operator first reported in a system status update on its website at 0952 EDT.

Trading was quickly halted in Berkshire Hathaway's Class A shares, which were showing losses of 99.97% early after the opening bell on Wall Street, resulting in a price of just $185.10, compared with Friday's closing price of $627,400. At the same time, the investment group's Class B shares were down just 1.1%.

Chipotle Mexican Grill, Nuscale Power and Barrick Gold were also among the stocks that saw trading halted, according to various reports.

An update from NYSE at 1108 EDT revealed that trading had resumed, or was soon to resume.

"A technical issue with industry-wide price bands published by the CTA SIP triggered halts in a number of stocks listed on the NYSE Group exchanges this morning. Impacted stocks have since reopened (or are in the process of reopening) and the price bands issue has been resolved," the update read.