Breaking News: Berkshire Hathaway plummets 99%! New York Stock Exchange technical glitch leads to extreme price volatility.

Due to a technical glitch at the New York Stock Exchange (NYSE) on Monday, the price of Berkshire Hathaway's Class A shares, owned by Buffett, showed a sudden drop of nearly 100%, causing market chaos. This unexpected plunge led to trading halts on multiple stocks.

Berkshire Hathaway Plummets 99%!

On Monday morning, investors discovered that the price of BERKSHRE CL A BRK.A showed a nearly 100% drop on the U.S. stock market. The erroneous price display was the result of an internal technical glitch in the NYSE trading system.

In addition to affecting Berkshire Hathaway, the technical issue also impacted the stocks of Barrick Gold and NuScale Power, which experienced sharp and unexpected declines. As a precautionary measure, NYSE halted trading on these stocks to prevent further market chaos and potential financial losses for investors.

Investigation into Technical Issues

At 10:11 a.m. Eastern Time, NYSE issued an update stating that they are investigating the root cause of the technical problems. The issue is related to the circuit breakers, which are designed to halt trading when stocks experience excessive volatility. These mechanisms are crucial for maintaining market stability, but the malfunction caused them to fail, resulting in the erroneous price drop.

Prior to the trading halt, the trading volume for BERKSHRE CL A BRK.A was less than 4000 shares, indicating that the problem was swiftly identified and addressed.