X

Don't panic! Amazon, Google aren't in a NYSE meltdown

A suspension of trading for key tech companies had people wondering what was going on. It turns out to be a trading bug.

Roger Cheng Former Executive Editor / Head of News
Roger Cheng (he/him/his) was the executive editor in charge of CNET News, managing everything from daily breaking news to in-depth investigative packages. Prior to this, he was on the telecommunications beat and wrote for Dow Jones Newswires and The Wall Street Journal for nearly a decade and got his start writing and laying out pages at a local paper in Southern California. He's a devoted Trojan alum and thinks sleep is the perfect -- if unattainable -- hobby for a parent.
Expertise Mobile | 5G | Big Tech | Social Media Credentials
  • SABEW Best in Business 2011 Award for Breaking News Coverage, Eddie Award in 2020 for 5G coverage, runner-up National Arts & Entertainment Journalism Award for culture analysis.
Roger Cheng
gettyimages-479934132-copy.jpg

The NYSE halted trading Wednesday on four companies.

Spencer Platt, Getty Images

Amazon, Google parent Alphabet and two other companies saw trading on their stocks halted Wednesday, leading to a momentary WTF.

The New York Stock Exchange sent out an update that trading had been suspended for the day for Amazon (AMZN), Alphabet (GOOG, GOOGL) and Booking Holding (BKNG). There's nothing wrong with the companies. The NYSE points to a "price scale code issue" affecting trades. Essentially, the system can't handle stocks with prices over $1,000, according to CNBC. It notes that Amazon, Alphabet and Booking are the three highest priced stocks in the Standard & Poor's 500. 

Another ticker, ZNWAA, for Zion Oil & Gas, was also flagged. But it doesn't trade on the NYSE. It's unclear how it made the list. 

A representative for the NYSE confirmed there is nothing wrong with the companies themselves. 

The halt comes during a busy earnings week, with Alphabet posting a profit and sales boost Monday and Amazon set to reported its quarterly results Thursday.