Technical malfunction at the US stock exchange leads to abnormal trading in some US stocks
NYSE says it is investigating technical issues with the report
After 9:40 am local time on Monday, multiple stocks suddenly stopped trading on the New York Stock Exchange due to technical issues.
The unexpected trading halt was caused by technical issues related to the "limit up/down" code, which is usually used to restrict excessive fluctuations in individual stocks.
NYSE stated that they are investigating the reported technical problems.
Among the major companies that halted trading on Monday were Berkshire Hathaway Inc. (NYSE: BRK) at 9:50:52 am Eastern Time, and Chipotle Mexican Grill Inc. (NYSE: CMG) at 9:44:58 am Eastern Time.
Chipotle's stock experienced a sudden and drastic drop, plummeting by 66% from $3097 to $1047. The stock resumed trading at 10:21 am.
At 9:49 am Eastern Time, Berkshire Hathaway's stock suffered a more severe decline, dropping by nearly 99.7%, from $622375 to $185.10.
Other affected stocks
- Abbott Laboratories (NYSE: ABT)
- Barrick Gold Corp. (NYSE: GOLD)
- NuScale Power Corporation (NYSE: SMR)
- Destiny Tech100 Inc. (NYSE: DXYZ)
- Ault Disruptive Technologies Corporation (NYSE: ADRT)
- Nouveau Monde Graphite Inc. (NYSE: NMG)
The technical malfunction also impacted the following exchange-traded funds traded on the New York Stock Exchange:
- Direxion Daily Aerospace & Defense Bull 3X Shares (NYSE: DFEN)
- MAX S&P 500 4x Leveraged ETN (NYSE: UPRO)
- JPMorgan Core Plus Bond ETF (NYSE: JCPB)
- Global X MSCI Argentina ETF (NYSE: ARGT)
- Nationwide Nasdaq-100 Risk-Managed Income ETF(NYSE:NUSI)