A chaotic opening on the New York Stock Exchange on Monday morning was blamed on a technical glitch, causing shares in several companies, including Berkshire Hathaway, to plummet.
The New York Stock Exchange halted trading in several companies’ shares and said it was investigating what it called “technical issues.”
“NYSE Equities is currently investigating the reported technical issue and will provide additional information as soon as possible,” the NYSE said in a statement on its website at 9:52 a.m.
Shortly after exchanges opened for spot trading on Monday morning, Berkshire Hathaway’s Class A shares plummeted a staggering 99.97% and were halted. The shares, which typically fetch hundreds of thousands of dollars, were halted at $185.10. Warren Buffett owns about 40% of the Class A shares.
In contrast, Berkshire’s more commonly traded Class B shares fell 0.97% to $410.36 and continued trading as usual.
The trouble didn’t end there. Barrick Gold shares plummeted more than 98 percent, dropping to just $0.25 before trading was halted around 9:56 a.m. Bank of Montreal shares fell from $88 to $0.77 before trading was halted. Logistical Properties of the Americas, a real estate company with properties in South and Central America, dropped from $125 to $75.
