TRADING OF shares in the technology giant Apple were halted due to volatility for a few minutes this afternoon.
The price of Apple shares crashed 9 per cent, to $542.80, before trading was stopped.
When the stock started trading again, it opened at $598.39 – only just below its opening price of the day.
The crash is being blamed on the BATS exchange, which is an electronic trading network that allows traders to trade stocks outside of the major stock exchanges.
Oddly enough, BATS just entered on the stock market today, and its stock is suffering from its own flash crash right now.
- Jay Barow