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Amazon logo is displayed at the Nasdaq MarketSite, in New York's Times Square.

Stocks for Amazon and other tech companies appeared to plummet after data glitch


After a market data glitch on the eve of Independence Day, share prices for major tech companies like Amazon and Apple went crazy, CNN Money reported.

Some websites were reporting Amazon dropping 87 percent and Apple falling 14 percent, while Microsoft jumped 79 percent.

According to Nasdaq, test data that was "improperly" used by third parties led to the confusion and misleading prices.

In the test data, share prices for Amazon, Microsoft and Ebay were all listed at $123.47.

Fortunately, Nasdaq spokesman Ryan Wells said the glitch won't affect the actual trades in the stocks. If they had, Amazon's stock dropping that much would have wiped out almost $400 billion from the company's market capitalization, CNN Money reported.

CNN Money, Bloomberg and Google Finance all displayed the misleading prices on their websites. The correct prices started to show up on Tuesday morning.

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