The Nasdaq Stock Market yesterday canceled some early trades in nine US stocks, including Goldman Sachs, Hewlett-Packard and Sprint Nextel, when prices swung more than 10 percent away from Wednesday’s close.
The errors took place before the regular opening of trading, said the Nasdaq, which is led by Robert Greifeld.
Goldman Sachs fell as much as 20 percent, to $94.01, and HP plunged 79 percent, to $3.06, before the trades were broken. Sprint touched $2.82, a 50 percent decline, prior to the Nasdaq’s decision to reverse those transactions.
“When I first saw they were canceling trades, my first reaction was: here we go again,” Larry Peruzzi, senior equity trader at Cabrera Capital Markets said.
Nasdaq accidentally halted the start of trading in Whitehorse Finance last week and flubbed Facebook’s initial public offering in May.
Separately, Nasdaq announced that its board of directors selected Börje E. Ekholm as chairman.