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Shares in Apple suspended after bizarre 'technical glitch'

A fringe trading network is blamed for a bizarre slide which saw the price of Apple shares fall 9 per cent for no reason.

Billy Leech, 10, from Edenderry was the first person in the queue at Arnott's in Dublin this morning to buy the new iPad, which went on sale in Ireland today.
Billy Leech, 10, from Edenderry was the first person in the queue at Arnott's in Dublin this morning to buy the new iPad, which went on sale in Ireland today.
Image: Mark Stedman/Photocall Ireland

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

New iPad: Three million sold in first weekend

Published with permission from:

Business Insider
Business Insider is a business site with strong financial, media and tech focus.

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