Updated from 12:04 p.m. EST to provide more information on the reason behind the crash in fourth paragraph.
NEW YORK (
may have given some investors a heart attack Friday when its shares briefly plummeted about 10%.
Come to find out, it was only an erroneous trade, known as a "flash crash."
Apple fell as low as $542.80 before a circuit breaker kicked in, and the stock was halted for
, according to the
. The shares were halted at 10:57 a.m. EST, and resumed trading normally at 11:02 a.m. EST, down only 0.2% to $598.20.
appears to be an order placed through the BATS exchange, which ironically, had trouble with its own ticker while going public Friday. Parent company
BATS Global Markets
said in a statement issued at 10:48 a.m. EST, "Please be advised that BATS is currently investigating system issues trading in symbols range A through BF. Will advise."
BATS ultimately had to pull its IPO; although it reopened the affected part of its market where the flash crash occurred.
Apple shares closed the session lower, off 0.55% to $596.05.
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Written by Chris Ciaccia in New York
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