Trading on the New York Stock Exchange (NYSE) was abruptly halted today following a sharp 99.97% drop in Berkshire Hathaway’s Class A shares, which plummeted from $627,214.90 to $185.10 before trading was suspended due to volatility (coded as M). The cause of this sudden decline remains unclear.

In a related incident, a glitch at the NYSE operator triggered volatility trading halts for approximately a dozen other companies, as reported by Bloomberg. This issue adds to a series of recent technical disruptions affecting major exchanges. For instance, on March 18, the Nasdaq experienced a three-hour trading halt during premarket sessions due to connectivity issues with its matching engine, according to the Bangkok Post.

Amid these challenges, the Depository Trust & Clearing Corporation (DTCC) is currently exploring blockchain technology in collaboration with Chainlink to accelerate settlements of mutual funds. This development suggests that blockchain solutions could offer significant benefits to traditional stock markets. Chainlink’s decentralized oracle network could play a crucial role by delivering accurate and reliable data feeds. Unlike centralized systems prone to single points of failure, Chainlink utilizes multiple independent data sources to ensure data accuracy and tamper-proofing, thereby enhancing security and reliability.

Chainlink’s oracles aggregate data from diverse providers and use consensus mechanisms to validate information before it is added to the blockchain. This process safeguards data integrity, preventing manipulation and ensuring accurate real-time data verification. Moreover, Chainlink-powered smart contracts can automate responses to anomalies like significant stock price fluctuations by pausing trading or triggering alerts. This automation facilitates immediate action to investigate and resolve issues, bolstering market stability.

By leveraging Chainlink’s decentralized oracle network, stock exchanges can foster transparency and trust among participants. The decentralized nature of data feeds minimizes manipulation risks, boosting confidence in market operations. Ultimately, integrating blockchain technology, particularly Chainlink’s decentralized data feeds and real-time verification capabilities, could substantially mitigate glitches and erroneous trades in stock exchanges, enhancing overall reliability and stability in trading environments.