NYSE fixes glitch that indicated huge drop for Berkshire Hathaway

• A technical glitch on the New York Stock Exchange resulted in massive share price drops shortly after markets opened Monday
• Most notably impacted was Berkshire Hathaway (NYSE:BRK.A) which falsely saw a 99.9 per cent share price drop
• The glitch suggested the company helmed by billionaire investor Warren Buffett dropped from its US$900 billion market cap to below $1 billion
• As of Monday afternoon, the glitch has been corrected and shares of Berkshire Hathway (NYSE:BRK.A) closed at $631,110.10

A technical glitch on the New York Stock Exchange (NYSE) resulted in massive share price drops shortly after markets opened Monday.

Most notably impacted was Berkshire Hathaway (NYSE:BRK.A) which falsely saw a 99.9 per cent share price drop.

According to the NYSE website, the glitch occurred at roughly 9:52 am ET, indicating the NYSE Equities “was currently investigating a reported technical issue.”

According to Forbes, other impacted stocks that were also halted because of the glitch included Chipotle, GameStop and AMC.

Shares of Berkshire Hathaway resumed trading at 11:35 am ET after a nearly two-hour pause.

In updates from NYSE Equities at 11:08 a.m. ET, the website said 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,” and that stocks impacted were in the process of reopening.

As of 11:40 a.m. ET, NYSE Equities said the issue was resolved and that all shares resumed trading.

As of Monday afternoon, it’s unclear what caused the technical glitch.

Berkshire Hathway Inc. (NYSE:BRK.A) shares closed at $631,110.10.

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