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.