Shares of Apple (AAPL) were halted on Wall Street briefly today as traders and investors panicked amidst a free fall of the tech stock seemingly without reason.
"A single trade of 100 shares at a price of $542.80 hit the tape at 10:57 coming from the BATS Exchange," CNBC confirms. "The previous trade seconds earlier was at a price of $598.26."
The traders I spoke with this morning say they suspect a so-called error trade, sometimes known as a fat-finger mistake.
But there could be other factors involved. Nine minutes before the way out of market trade took place, BATS sent an alert stating, “Please be advised that BATS is currently investigating system issues trading in symbols range A through BF.”
There could be more to this story as time passes. We will keep you posted.