Tech stocks appear to go nuts after computer glitch
- Author: Rita Burton Jul 05, 2017,
Jul 05, 2017, 0:22
"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.More news: UK's May cracks joke about election disaster
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.