Bizarre computer glitch sends technology stocks all crashing to same price

Unusual PC glitch sent offers in many US innovation organizations including Apple, Amazon and Microsoft to a similar cost on Tuesday morning, driving some to clearly lose billions in showcase esteem.

The bug indicated many stocks on the Nasdaq trade to quickly be accounted for as $123.47 on Bloomberg, Reuters and Google Finance information. It was activated after money related data suppliers wrongly translated a Nasdaq information test as live costs, prompting brief mayhem on exchanging floors.

Amazon's offers were demonstrated tumbling from nearly $950, a drop of 87 for every penny, Google proprietor Alphabet's fell by 86 for each penny and Apple fell by 14.3 for each penny.

Different organizations that have share costs well beneath $123.47 saw them quickly rocket. Microsoft shares bounced right around 80 for each penny, giving the organization a valuation of more than $1 trillion and gaming organization Zynga ascended by more than 3,000 for each penny.

The glitch happened in twilight exchanging after the Nasdaq had shut right on time in front of the July 4 occasion and drove a few stocks to be ended.

The trade frequently conveys test information in which all offers are reset to $123.47, however the figures never regularly make it into live costs on the information suppliers, for example, Bloomberg and Reuters on which numerous budgetary foundations depend.

Some recommended the early shutting of stock trades on Monday may have been behind the glitch. Nasdaq said the mistake was identified with "unlisted exchanging benefits", a correct that permits stocks recorded on a trade to be exchanged somewhere else.

"Nasdaq is researching the uncalled for utilization of test information dispersed by the UTP [unlisted exchanging privileges] and devoured by outsiders," a representative said.

"As a component of its ordinary procedure, the UTP dispersed test information and certain outsiders shamefully spread the information. Nasdaq is working with outsider merchants to determine the issue."

The Nasdaq has seen various electronic exchanging glitches. It was compelled to pay $26.5 million (£20.5m) for bugs amid Facebook's first sale of stock that saw a few requests deferred for quite a long time.
//]]>