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Cause of June 3 NYSE glitch?
5
New York Stock Exchange•NYSE•Warren Buffett•Berkshire Hathaway•Bank of Montreal•Barrick Gold Corporation
Resolution / Starting Odds
Software error • 25%
Hardware failure • 25%
Cyberattack • 25%
Human error • 25%
Official NYSE announcements or press releases
Story
NYSE Glitch Causes 99% Drop in Warren Buffett's Berkshire Hathaway, Trading Resumes
Jun 3, 2024, 02:23 PM
The New York Stock Exchange (NYSE) experienced a significant technical glitch on June 3, 2024, causing multiple stocks, including Warren Buffett's Berkshire Hathaway Class A ($BRK.A), to appear down by nearly 100%. The glitch led to Berkshire Hathaway's shares showing a drop of 99.97%, equating to a loss of $627,214.90 per share. Other companies affected by this issue included Bank of Montreal ($BMO) and Barrick Gold Corporation ($GOLD). The NYSE has confirmed it is investigating the cause of the technical issue, which resulted in the temporary halt of trading for the impacted stocks. The glitch has reportedly wiped out hundreds of billions in market value. Trading for Berkshire Hathaway has since resumed, and the NYSE reports that all systems are currently operational.
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Similar markets
Software error • 25%
Human error • 25%
Cyberattack • 25%
Other • 25%
Yes • 50%
No • 50%
New trading platform • 33%
Enhanced security measures • 33%
Both • 34%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
No significant impact • 33%
Minor impact (less than 5% deviation) • 33%
Major impact (5% or more deviation) • 33%
Remains below pre-glitch levels • 33%
Recovers to pre-glitch levels • 33%
Exceeds pre-glitch levels • 33%
