New York Stock Exchange is investigating technical issue as dozens of stocks are halted
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The New York Stock Exchange said Monday’s technical issue is related to a mechanism designed to prevent stock prices from swinging wildly.
New York
CNN
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The New York Stock Exchange is investigating a technical issue on Monday as Berkshire Hathaway and dozens of other stocks are halted.
NYSE said the technical issue is related to a mechanism designed to prevent stock prices from swinging wildly.
Dozens of stocks are paused because they traded outside those so-called limit up-limit down bands, according to NYSE’s website. That list includes Chipotle and Berkshire Hathaway, the holding company run by legendary investor Warren Buffett.
Berkshire’s Class A stock is listed as trading at just $185.10, a price that would represent a loss of 99.97%, according to Refinitiv.
It’s not clear if the issues are related.
NYSE said it continues to investigate and did not provide additional comment to CNN.
Representatives for the Securities and Exchange Commission were not immediately available to comment.
Joe Saluzzi, co-founder of Themis Trading, told CNN that the technical issues don’t appear to be impacting the broader market.
“Berkshire, Chipotle and a few others were halted for no apparent reason. Something wacky is happening,” said Saluzzi, a market structure expert and the author of “Broken Markets.”
This is a developing story and will be updated.
