Nasdaq Stocks Show Wild Swings; Exchange Cites Third Parties
- Issue was caused by data providers, not Nasdaq: spokesman
- Stocks including Apple and Microsoft seemed to swing wildly
This article is for subscribers only.
Erroneous prices of Nasdaq stocks, including some of the world’s biggest technology companies, flooded traders’ screens after the U.S. market shut early Monday before a holiday.
The prices were distributed by third-party data providers after Wall Street closed early for the July 4 break. The exchange operator was conducting a test of its pricing data feed that led to some providers, including Google Inc. and Bloomberg LP, the parent of Bloomberg News, showing exaggerated moves in shares such as Apple Inc. and Microsoft Corp. that never occurred, according to spokesman Joe Christinat. The test data is sent daily, he said. Nasdaq is working with the providers to resolve the issue, he said.