Biz Brief: Washington Post Stock Is First to Trigger 'Flash Crash' Circuit Breakers

The Washington Post Co. (WPO) became the first U.S. company to have trading of its stock halted by Securities and Exchange Commission circuit breakers enacted following the May 6 market flash crash.

According to data compiled by Bloomberg, Washington Post shares doubled quickly when three erroneous trades pushed the price of the stock to $929.18 from $462.84 at 3:07 p.m. EST. The transactions were later canceled.

The SEC trading curbs, which stop trades in Standard & Poor's 500 Index stocks for five minutes when they rise or fall 10% within five minutes or less, went into effect on June 11.

A spokesman for the New York Stock Exchange said the circuit breakers appeared to have been triggered by an erroneous trade. The Washington Post had no comment.

Increase your money and finance knowledge from home

How to Buy a Car

How to get the best deal and buy a car with confidence.

View Course »

Building Credit from Scratch

Start building credit...now.

View Course »

Add a Comment

*0 / 3000 Character Maximum