Berkshire Hathaway is Warren Buffett’s investment vehicle. The ruling took place at the start of this Monday’s hearing and has led to sharp falls in dozens of values.
The New York Stock Exchange is investigating the technical glitch that led to a sharp drop in trading in dozens of securities early in Monday’s session on Wall Street, showing a collapse in the price of more than 99% of stocks. Berkshire Hathawaythe investment vehicle Warren Buffett.
Among the stocks hit by the volatility were Berkshire Hathaway and Barrick Goldwhose shares showed declines 99.97% and from 98.54%respectively as a result of the technical malfunction.
In a brief statement, the market operator said that “NYSE Equities continues to investigate a reported technical issue related to the LULD bands“.
The LULD (‘Limit Up/Limit Down’) belt system was approved May 31, 2012 by the Securities and Exchange Commission (SEC) on a pilot basis to address extraordinary market volatility, and was finally approved on April 11, 2019.
The mechanism is designed to prevent trades from occurring outside specific price ranges, which are set at a percentage above and below a security’s average reference price over the previous five-minute period and are continuously updated.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
