Freakish computer glitch sends technology stocks all crashing to same price

Freakish computer glitch sends technology stocks all crashing to same price

Freakish computer glitch sends technology stocks all crashing to same price

The problem also sent shares in Apple, Google, Amazon and Microsoft to the same price after the pre-Independence Day early closure of the stock market.

Amazon's and Alphabet's stock prices appeared to show a staggering drop of more than 80 percent.

Because of the glitch, some websites late Monday incorrectly showed Amazon (AMZN, Tech30) plummeting 87%, Apple (AAPL, Tech30) dropping 14% and Microsoft (MSFT, Tech30) jumping 79%.

A spokesman for Nasdaq said the exchange operator was conducting a test of its pricing data feed, which was mistakenly distributed to Google Finance and Yahoo Finance by third party providers. On some sites, several Nasadaq stocks were listed at the same price of $ 123.47. However, according to Nasdaq, the exchange where the stocks are listed, it wasn't the insane after-hours trading that caused such dramatic moves.

The error could have occurred because of Monday's half-day of trading ahead of the July Fourth holiday, the Financial Times reported.

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A COMPUTER GLITCH sent U.S. tech stocks into chaos on Monday, with the values of some of the world's biggest tech companies sent haywire, just in time for early closing ahead of the 4 July Independence Day public holiday. Nasdaq is reportedly working with providers to solve the matter.

By early Tuesday, the correct data was starting to appear on the websites affected.

Up to 16 stocks were affected by the error, but Nasdaq has not said if any trades were made with the wrong share prices.

The prices were apparently test data mistakenly distributed by third parties, which some vendors then used as live figures, according to the Financial Times.

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