Tech stocks appear to go nuts after computer glitch

(NASDAQ:AMZN) shares seemingly plunged yesterday on Google Finance and Yahoo Finance after third parties provided incorrect data.

Share prices for Amazon, Alphabet, Apple, and Microsoft are all being returned as $123.47.

Nasdaq said the insane prices came from test data it sent out that was "improperly" used by third party companies that supply their information to websites.

"UTP is asking all third parties to revert to Nasdaq Official Closing Prices effective at 5:16 PM". Imagine your shock when you checked your portfolio just a few hours later to find out that the same Amazon share was now listed at $123.47.

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USA stock markets were open for half a day on Monday and are closed Tuesday for Independence Day. The biggest consequences appear to be a bit of confusion among traders and a fun day for companies like Sears and Zynga, who saw their stock prices suddenly jump by a few thousand percent.

A number of tech stocks had a bit of a freak-out moment yesterday evening, after an error in the computer system linked to the Nasdaq caused their valuations (in some cases) to swing widely.

Several US media outlets said Bloomberg terminals, along with the Google Finance and Yahoo Finance portals were affected by the glitch. Third-party data providers simply took the test data and improperly distributed it as if the figures were real. Nasdaq is working with UTP and third parties to resolve the matter.

A Nasdaq statement explains that the company is investigating what happened and which third-party they can blame it on.

  • Rita Burton