The New York Stock Exchange faced a technical issue on Monday that led to the halt of trading for Berkshire Hathaway and several other stocks. The issue, according to NYSE, is related to a mechanism designed to prevent stock prices from swinging wildly.
NYSE’s website indicated that dozens of stocks were paused because they traded outside the limit up-limit down bands. This list included well-known companies like Chipotle and Berkshire Hathaway, the investment firm led by Warren Buffett.
One notable impact of the technical issue was seen in Berkshire Hathaway’s Class A stock (BRK.A), which was listed at just $185.10, a significant drop from its closing price of $627,400 on Friday.
While the exact cause of the technical issue is still under investigation, NYSE has not provided further details. Nasdaq confirmed that the issue was specific to NYSE and not a broader market problem.
Market experts like Joe Saluzzi of Themis Trading noted that the technical issues did not seem to have a widespread impact on the market. However, some stocks like Barrick Gold and NuScale Power experienced significant price fluctuations during the halt.
Representatives for the Securities and Exchange Commission were not immediately available for comment on the issue. The story continues to develop as NYSE investigates the cause of the technical glitch.
