Nasdaq Triggers Market-Wide Circuit-Breaker As AMZN "Crashes" 87% After-Hours
Hold on to your cryptos guys, tomorrow may not look good on the markets!
Nasdaq has issued a market-wide trading halt amid what appears to be a "glitch" that sent a number of the largest Nasdaq-listed stocks to crash or spike to exactly $123.47 per share.
This move crashed the value of companies including Amazon and Apple, sparked chaos in Microsoft, while sending Zynga rocketing up more than 3000%.
On the eve of the US Independence Day holiday and in after-hours trading, The FT reports that market data show that companies such as Apple, Amazon, Microsoft, eBay and Zynga were repriced at $123.47.
The Bloomberg data terminal listed either “market wide circuit breaker halt — level 2” or “volatility trading pause” on all the stocks affected.
The glitch did not affect any market trading, including after hours.The mysterious reset to $123.47 per share meant that Amazon in theory saw its share price marked down 87.2 per cent...
while shares in Apple fell 14.3 per cent...
But Nasdaq-listed Microsoft had jumped 79.1 per cent — which would value the company at nearly $1tn...
As Bloomberg reports, the apparent swings triggered trading halts in some securities, according to automatically generated messages. The halts are a mechanism exchanges use to limit the impact of particularly volatile sessions. A system status alert on Nasdaq’s website said that systems were operating normally at 8:23 p.m. ET. After-market hours on Nasdaq typically last from 4 p.m. to 8:00 p.m.
In a statement, Nasdaq said the glitch was related to “improper use of test data” sent out to third party data providers, and said it was working to “ensure a prompt resolution of this matter”. In cases of any clearly erroneous data, trades made are cancelled.
As a reminder this is not the first time 'glitches' have occurred on holidays... remember gold on Thanksgiving 2014.
Source : ZeroHedge
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Someone got 16.2M shares of MSFT after hours at a 57% discount? wow
something is going wrong with the world. I wonder what's next, an economic depression????
I think this is what's next after some summer consolidation ....the markets are going to start to move up week after week after week.... until the Dow Jones goes north of 40,000 ! The reasons for this are central banks need to buy something with all that money printed over the last 10 years. They have bought so many government issued bonds that negative interest rates are being paid on some .The reason for this is central banks need to buy something with all that money printed over last 10 years. They have bought so many government issued bonds that negative interest rates are being paid on some! So now they have to do something else. So they're gonna buy stocks they've already started. This is going to push the Dow Jones up to mania territory before epic history book style crash. Our stock charts are going to look like and stock charts in Japan 30 years ago. It's known as the Eiffel tower chart pattern!!!But within the next two years we are going to be in what is known as the greater depression. BUY GOLD BITCOIN LITECOIN
What this essentially means is that we are flooded with cheap money. Cheap money = worthless money. Stocks are at all time high due to manipulation by central bank and government around the world. When earnings doesn't justify valuation, we'll see a huge correction.
Is the depression imminent? Perhaps.
Times has changed and it's time for the digital revolution.
Crypto will save families like mine from becoming SLAVES! Fake money has been super hard to make for this hard working college educated 37 year young father of three and husband 🙁But I have found more opportunities in crypto then usd economics! This is both exciting and sad ! Some days I fear for my children's existence into the future
You guys are wackos. Those are broker prints for trades done over last 2-3 days in blocks. Its not real.
Exactly its a NON Story ..a GLITCH..Breaking News my Greenhouse Thermometer Reading 1000 C we 're ALL Doomed!!
Ryan great insight. Following
I do not think they be able to keep it
Exciting day tomorrow. Will check the market first thing in the morning
So is this a Bug in the system ?
I think it's manipulation gone wrong
It's easy to forget that it's not just the crypto-economy that suffers from technical glitches. Great post mate
What if they bring market to crash to make a good buy and that's the sign of long-term rising?)
Well that will make you throw a PVC!
Thanks so much for this news. I think it shows that besides cryptocurrencies traditional exchanges still have their fair share of technical problems. At first, when I read the title of this post, I thought it was some type of flash crash brought about because of program trading or trading that heavily relies solely on computers and modeling.
Damn that's crazy, is it possible this could be done on purpose?
Very interesting, I don't know much about the Nasdaq but I am more and more interested.
Can you say...Manipulation!!!!
In theory, if an insider with knowledge of the "stock price spike cutoff" mechanism were to leak, then couldn't a group profit immensely from this "glitch" before the correction controls went into effect?