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NYSE says technical issue fixed, after Berkshire Hathaway wrongly falls 99%

Normal trading resumed late Monday morning after the New York Stock Exchange said a technical glitch caused wide swings in posted prices for some stocks, including Warren Buffett’s Berkshire Hathaway.

A little after 11 a.m. ET, the NYSE said the problem affected the main electronic stock price publisher, but that most stocks had since reopened or were in the process of reopening.

Earlier, the NYSE said the issue involved “upside and downside limiting bands,” designed to limit volatility.

About 50 stocks were affected, the website said, and trading in those companies was halted.

The problem caused the NYSE to falsely display Berkshire’s so-called Class A shares down 99% from their price of about $620,000 per share. These stocks resumed trading at normal levels around 11:35 a.m. ET.

Other stocks affected included AMC Entertainment, Chipotle and GameStop.

Earlier, GameStop shares climbed after trader Keith Gill, known as “Roaring Kitty” on social media, apparently posted that he was increasing his stake on the stock.

A representative for the NYSE referred a request for comment to its website.

This is a developing story. Check back for updates.

News Source : www.nbcnews.com
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Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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