Tech stocks go haywire in $123.47 Nasdaq glitch

Tech stock prices have gone rogue in after-hours trading

Tech stock prices have gone rogue in after-hours trading

Amazon's and Alphabet's stock prices appeared to show a staggering drop of more than 80 percent.

Little fear or false joy for investors last night, some shares of the Nasdaq were displayed at the same price of 123.47 dollars.

'Nasdaq is investigating the improper use of test data distributed by the UTP [unlisted trading privileges] and consumed by third parties, ' a spokesman said. On some sites, several Nasadaq stocks were listed at the same price of $ 123.47. "Any data messages received post 5:16 PM should be deemed as test data and purged from direct data recipient's databases".

According to Nasdaq, the mix up did not affect any market trading.

USA stock markets were open for half a day on Monday and are closed Tuesday for Independence Day.

Samsung will invest $18 billion in chip production
It will invest 6 trillion won in a new semiconductor production line in Hwaseong, but did not elaborate on timing or product. This fab, claimed to be the single largest in the industry, is now making 64-layer 4th generation V-NAND flash chips.

The error could have occurred because of Monday's half-day of trading ahead of the July Fourth holiday, the Financial Times reported. Following the incident, Nasdaq began working with UTP and the third parties to resolve the matter and ensure it doesn't happen in the future.

Nasdaq told Business Insider that the problem was caused by "certain third parties" incorrectly interpreting test data as a live feed. Bloomberg, Google and Yahoo have - among others - been affected by this phenomenon.

A spokesman for Nasdaq put the blame on third-party data providers.

One day before the Fourth of July holiday, USA markets had closed early. The glitch caused all of these tech shares to show a closing price of $123.47 on financial websites, regardless of where they actually closed.

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