A COMPUTER GLITCH sent US tech stocks into chaos on Monday, with the values of some of the world's biggest tech companies sent haywire, just in time for early closing ahead of the 4 July Independence Day public holiday.
The Nasdaq figures were, we're told, not reflected in actual trading, only in the publicly listed prices, so no one lost any money.
It's a good job too, because it made Microsoft's share price leap nearly 80 per cent, whilst Google and Amazon's were slashed by 85 per cent, all trading at $123.47.
The data shown was, apparently, down to some test data going onto the live server and causing the exact glitch it was designed to protect from.
A Nasdaq statement explains that the company is investigating what happened and which third-party they can blame it on.
"Nasdaq is investigating the improper use of test data distributed by the UTP [unlisted trading privileges] and consumed by third parties. As part of its normal process, the UTP distributed test data and certain third parties improperly propagated the data. Nasdaq is working with third-party vendors to resolve the matter."
The false data was listed by Bloomberg, Reuters and Google, and whilst in might have caused the odd mild coronary for investors, in reality, they would have simply logged on to their trading systems and seen that the real data was right.
The Nasdaq is the stock exchange for most of the world's biggest technology companies, trading out of New York, and a longer glitch could have been disastrous. However, this one appears to have been over relatively quickly and caused no harm to live trading, so US traders can enjoy the holidays without worrying about their investments going tits up.
Nasdaq is no stranger to tech problems messing with its mojo. In 2013, trading was temporarily suspended following a computer glitch, whilst in 2015, a loan wolf Russian hacker counted Nasdaq among his pwns. µ
It's like someone just gave you a millionaire's shortbread, and added extra caramel
A promise that should never have been needed.
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