On the evening of June 3, 2024, a technical failure occurred at the New York Stock Exchange (NYSE), which affected the price display of some stocks.
In this technical failure, Berkshire Hathaway's Class A shares became one of the main targets affected. Berkshire Hathaway is a company owned by Warren Buffett, and its stock price has always attracted much attention in the market.
Due to a technical glitch, the share price of Berkshire Hathaway Class A shares was mistakenly shown in the New York Stock Exchange system as a plunge of nearly 100%, from a high price directly to an extremely low price. Such abnormal price changes attracted widespread attention in the market and panic among investors.
Faced with this abnormal situation, the New York Stock Exchange took quick action to suspend trading of several affected stocks, including Berkshire Hathaway Class A shares. At the same time, the New York Stock Exchange began to investigate the cause of the technical failure and found that it was due to a problem in the "CTA SIP" system when processing price range information.
Although trading in stocks such as Berkshire Hathaway's Class A shares was suspended, the incident did not have a significant impact on major market indexes. Trading in other stocks and the performance of the three major U.S. stock indexes were relatively normal.
After investigation and handling, the New York Stock Exchange successfully fixed the technical failure and resumed trading of the affected stocks. Berkshire Hathaway Class A shares and other stocks also resumed normal trading.
After the resumption of trading, the share price of Berkshire Hathaway Class A shares gradually recovered and eventually rose to a relatively normal level, which shows the market's recognition of Berkshire Hathaway's value and the limited impact of the technical failure.
