Market glitch sinks Amazon

SHARES in several big-name Nasdaq companies appeared to spike or plummet well after the closing bell on Monday due to a suspected glitch.

About five-and-a-half hours after the market closed, internet giants Amazon and Microsoft stocks appeared to have lost more than half their value and shares in rival Apple appeared have more than doubled.

Google parent company Alphabet and Ebay shares were among others that all appeared to be priced at $123.47 on some financial news websites.

The actual prices of the stocks were not affected and no trades were completed at that price, a Nasdaq spokesman said.

Nasdaq said in a statement it was investigating the improper use of test data distributed by third parties. Prices on Nas- daq’s website were not affected. Nasdaq and other American stock exchanges closed early on Monday ahead of the Independence Day holiday yesterday.

Testing of stock exchange software is allowed by the US Securities and Exchange Commission and happens on a regular basis to help prevent electronic glitches, often using test symbols and historical data.