"Sudden US Stock Crash: Several Stocks Plunge 98%"

Several US stocks are suspected of experiencing unusual market movements, with Berkshire Hathaway even plummeting by 98%.

On Monday, multiple market software indicated that several US stocks are suspected of having unusual market movements, with Berkshire Hathaway (BRK.A.N), Bank of Montreal, and Barrick Gold among others experiencing a drop of over 98%, and the market movements were stagnant.

A spokesperson for the New York Stock Exchange stated that the NYSE equities department is investigating a technical issue with the Limit Up-Limit Down (LULD) reporting. The LULD is a mechanism designed to prevent excessive stock fluctuations.

Trading of Berkshire Hathaway's Class A shares was suspended, with less than 4,000 transactions recorded for the day; Class B shares continued to trade, with a morning drop of less than 1%.

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These actions do not seem to have affected the main market average indices. Themis Trading co-founder Joe Saluzzi said, "Berkshire Hathaway, Chipotle, and a few other companies were suspended for no apparent reason, something is very strange."

According to the latest news, around 11:10 PM Beijing time on the 3rd, the NYSE stated that the affected stocks resumed trading, and the issue with the price range had been resolved.

The NYSE issue once again reminds people that exchanges and data providers at the core of Wall Street are not infallible.

Other recent examples include the Chicago Mercantile Exchange (CME) suspending the provision of index data for an hour last week, and a Nasdaq system error in December last year that led to the cancellation of some orders.

The NYSE also had a day in January 2023 when the opening of some stocks did not proceed normally.

Under normal circumstances, Berkshire Hathaway's initial Class A stock is one of the highest-priced stocks on Wall Street. On March 28, the stock reached a historical closing high of $634,440.This is because Buffett has never split his stock, as he wishes to attract shareholders who are investment-oriented and have a long-term perspective.

The disciple of Graham has stated that many Berkshire Hathaway shareholders treat their stocks like savings accounts.

In 1996, Berkshire Hathaway issued Class B shares at a price equivalent to one-thirtieth of Class A shares to cater to small investors who wanted to benefit from Buffett's performance.

According to FactSet data, Buffett is Berkshire's largest shareholder, owning over 38% of Class A shares. The "Oracle of Omaha" has also pledged to donate the wealth he has accumulated at Berkshire Hathaway.