Berkshire Hathaway stock appears to drop 99.9% after NYSE technical glitch

A technical glitch on the New York Stock Exchange shortly after the market open on Monday temporarily showed incorrect stock prices or volatility halts on several stocks, most notably a 99.9% drop in the price of Warren Buffett’s Berkshire Hathaway (BRK-A) A-shares.

Berkshire Hathaway (BRK-B) B-shares, which trade at 1/1,500th the price of the A-shares, were down as much as 1.1% on Monday and appeared largely unaffected by the error, though volatility was pronounced in both issues as A-shares reopened for trading near 11:35 a.m. ET.

A NYSE spokesperson later said “a technical issue involving industry-wide price bands published by the Consolidated Tape Association’s Securities Information Processor triggered “limit-up/limit down” trading halts on up to 40 symbols listed on NYSE Group exchanges.

Price bands on securities prevent outsized volatility or extreme movements. The spokesperson said shortly before noon, the issue was resolved and trading in the impacted stocks resumed.

Chipotle (CMG) stock was temporarily halted for volatility about 14 minutes after the market opened, even though the stock was down only 1.2%.

Other stocks which were impacted include Abbot Laboratories (ABT), Barrick Gold (GOLD), GameStop (GME), AMC (AMC), and Bank of Montreal (BMO).

Monday’s technical glitch comes days after the disappearance of live calculations for the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) for about an hour.

About a week ago, the NYSE began settling stocks in one business day to comply with a new rule from the Securities and Exchange Commission, with the time between a trade and settlement decreased from two days to one day.

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.