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.

© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

631 SW Commerce Pl. Topeka, Kansas 66615 phone: 785-272-6397 fax: 785-272-1363 email:
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 30039989 -
Gray Television, Inc.