NYSE technical error sends stocks tumbling

Exchange said the problem involves limit bands designed to prevent volatility

Updated A glitch at the New York Stock Exchange has caused several high-profile stocks to rapidly lose value before being locked from trading.

An outage notice posted to the NYSE website today said that the issue pertained to "LULD Bands," or limit up/limit down rules that are in place to prevent stock volatility.

The notice was updated to add that it was triggered by an issue with "industry-wide price bands published by the CTA SIP" that triggered halts in several stocks, which have since reopened.

NYSE still hasn't shared a cause for the issue, and said it is still investigating. We've asked for comment and will update this breaking story as we learn more. ®

Updated to add at 1850 UTC

The New York Stock Exchange has blamed the situation on a technical error, and says the issue has now been fixed:

"After the market opened on the morning of June 3, 2024, a technical issue involving industry-wide price bands published by the Consolidated Trade Association’s Securities Information Processor triggered 'limit-up/limit down' trading halts on up to 40 symbols listed on NYSE Group exchanges.

"Shortly before noon, the issue was resolved and trading in the impacted stocks resumed. A list of the affected symbols is posted below. The NYSE is reviewing potentially impacted trades."

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