Google stock fell on error; Nasdaq raises close

By: AP
By: AP

SEATTLE (AP) -- The last-minute pounding Wall Street gave Google's shares was caused by "erroneous orders" that Nasdaq says it is canceling.

Minutes before the closing bell Tuesday, a flurry of trades sent the Web search leader's stock plummeting 10 percent to close at $341.43.

Nasdaq said in a statement that erroneous orders routed to Nasdaq from another market center were responsible for the high volume of trades.

The exchange raised Google's closing price to $400.52 - a 5 percent gain for the day - and canceled all trades below that amount and above $425.29 between 3:57 p.m. and 4:02 p.m. EDT.

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