Get All Access for $5/mo

NYSE Confirms a 'Technical Issue' Caused Berkshire Hathaway to Drop 99.9% on Monday At least 40 stocks were impacted, and many were still halted on Monday afternoon.

By Emily Rella

Key Takeaways

  • "A technical issue" halted a number of stocks listed on the NYSE Group exchanges this morning.
  • The glitch incorrectly showed some stocks plummeting, including Warren Buffett's Berkshire Hathaway.
  • At least 40 different stocks were impacted by the technical issue.

A New York Stock Exchange glitch sent the trading floor into chaos Monday after posting incorrect prices for several stocks. Some were shown plummeting, including Warren Buffett's Berkshire Hathaway, which incorrectly showed a 99% drop.

"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," the NYSE explained in a statement. "Impacted stocks have since reopened (or are in the process of reopening) and the price bands issue has been resolved."

Related: Berkshire Hathaway Sold Paramount Stock, Lost 'Quite a Bit'

The glitch was fixed around 11 a.m., the statement said, though as of late afternoon Monday, multiple stocks were still placed on a trading halt, per the exchange's website.

Berkshire Hathaway's A-shares were affected by the bug though the company's B-shares were mainly unaffected aside from a 1% drop in valuation.

The company's A-shares were listed at $185.10 amid the setback, which would've put the company down over 99.9% after closing at $627,400 on Friday. Berkshire's A-shares reopened for trading just after 11:30 a.m.

Related: Read Warren Buffett's Annual Letter to Berkshire Shareholders

Other stocks affected include Chipotle and Horace Mann Educators, both halted for volatility. At least 40 different stocks were impacted by the technical issue.

NYSE's parent company, Intercontinental Exchange, told CNN that there is no indication that the glitch was caused by cybercriminals or a cyberattack.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.

Leadership

This Artist Answered a Businessman's 'Powerful' Question — Then His Work Became 'the Poster Child for Juneteenth': 'Your Network Really Becomes Your Net Worth'

Reginald Adams was the executive director of a Houston-based art museum for more than a decade before he decided to launch his own public art and design firm.

Leadership

Harvard Business School Professor Says 65% of Startups Fail for One Reason. Here's How to Avoid It.

Team alignment isn't nice to have -- it's critical for running a successful business.

Business News

Here's What Companies Are Open and Closed on Juneteenth 2024

Since it became a holiday in 2021, Juneteenth has been recognized by some major corporations as a paid day off.

Growing a Business

I Hit $100 Million in Annual Revenue by Being More Transparent — Here Are the 3 Strategies That Helped Me Succeed

Three road-tested ways to be more transparent and build relationships that can transform your business — without leaving you feeling nightmarishly over-exposed.