A technical issue on Monday morning caused a major stir in the stock market as Warren Buffett’s Berkshire Hathaway A-class shares were erroneously displayed as down nearly 100% on the New York Stock Exchange. The trading halt affected not only Berkshire Hathaway but also Barrick Gold and Nuscale Power, which experienced significant drops before trading resumed.

The New York Stock Exchange identified the root cause of the problem as a glitch in the price-bands published by the Consolidated Tape Association, disrupting real-time stock quotes. By midday, around 11:45 a.m. ET, the NYSE announced that the technical issues had been resolved, and trading had returned to normal.

The Consolidated Tape Association reported that the malfunction in limit up and limit down price bands, designed to manage market volatility, occurred between 9:30 a.m. and 10:27 a.m. ET. The CTA attributed the issue to a potential software update and planned to revert to the previous software program for the next trading session.

Approximately 40 stocks, including Chipotle Mexican Grill and Bank of Montreal, were impacted by the glitch. Following the market close, the NYSE Group Equities Exchange disclosed its decision to void erroneous trades in various securities, including Berkshire Hathaway’s A-shares.

Despite the chaos, trading in Berkshire Hathaway’s B-class shares remained relatively stable, with a marginal decrease of less than 1% in the morning that eventually recovered by the end of the day. The overall market indices were largely unaffected by the trading halts.

Monday’s events underscore the vulnerability of the financial markets to technical glitches, serving as a cautionary tale for traders and investors alike. As the NYSE and CTA work to rectify the issue and enhance market stability, the incident serves as a reminder of the importance of robust infrastructure and risk management in the modern financial landscape.