Stock market today: Stocks slide amid weak manufacturing data, GameStop rallies after return of 'Roaring Kitty'


A technical glitch on the New York Stock Exchange (NYSE) early Monday resulted in multiple incorrect stock prices and volatility halts.

Yahoo Finance’s Ines Ferré reports:The glitch impacted 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 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,” read a NYSE statement emailed shortly after 11 a.m. Eastern Time.

Traders and floor officials react to technical issues on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 3, 2024.  REUTERS/Brendan McDermid

Traders and floor officials react to technical issues on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 3, 2024. REUTERS/Brendan McDermid (REUTERS / Reuters)

Price bands prevent outsized volatility or extreme movements in an individual stock. The NYSE said the impacted stocks have since reopened or are in the process of reopening, and the issue was resolved.

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

Horace Mann Educators (HMN) and Franco-Nevada Corp (FNV), a gold-focused royalty and streaming company, were also temporarily halted.

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.



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