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NYSE trading glitch costs Interactive Brokers $48mn

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NYSE trading glitch costs Interactive Brokers mn

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A trading glitch on the New York Stock Exchange earlier month has cost Interactive Brokers $48mn after its customers tried to pile into Berkshire Hathaway shares following a 99 per cent plunge.

The brokerage on Wednesday said it was considering its options “including any claims at law it could assert against NYSE” but said the hit was not material to earnings.

Berkshire Hathaway’s class A shares were among several that plummeted unexpectedly on June 3 because of a technical issue in early trade on the NYSE, which is part of Intercontinental Exchange.

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Berkshire’s shares collapsed from about $622,000 to $185 a share before the exchange halted trading.

The price plunge spurred a raft of buy orders during the halt, “presumably expecting those orders to be filled at approximately $185/share when trading resumed”, Interactive said.

The broker, founded by electronic trading pioneer Thomas Peterffy, is popular with retail investors as well as professional traders such as hedge funds.

When trading resumed almost two hours later Berkshire’s shares shot as high as $741,941 within minutes, leading Interactive’s customers to have their orders filled “at various prices during this run-up, including some who were filled at the peak price”.

After markets closed on June 3, NYSE said it would “bust” or cancel, all trades at or below $603,718.3 conducted before trading was halted.

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The loss stems from Interactive Brokers’ decision to take over a substantial portion of the trades through its platform “as a customer accommodation” after NYSE on the day told the brokerage that it would not cancel Interactive’s deals as the broker had asked.

NYSE on Tuesday denied Interactive’s subsequent claims for compensation, spurring Wednesday’s notice. NYSE declined to comment.

About 40 securities in total were affected by the June 3 episode, including Barrick Gold and restaurant chain Chipotle. The exchange said the glitch stemmed from a technical issue with price bands published by the group that consolidates the trading data from all the US securities exchanges, known colloquially as the “tape”.

Shares in Interactive Brokers were unaffected by Wednesday’s news, trading up 0.5 per cent by late morning on Wednesday and up about 48 per cent this year.

In 2020 the brokerage lost up to $88mn from the collapse in value of short-term WTI oil futures contracts when it stepped in to pay margin calls owed to clearing houses for customers caught on the wrong side of the trade.

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Video: Trump Says He ‘Loves the Inflation’ Amid War With Iran

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Video: Trump Says He ‘Loves the Inflation’ Amid War With Iran

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Trump Says He ‘Loves the Inflation’ Amid War With Iran

President Trump dismissed the newest inflation report on Wednesday, marking the third-straight month of high prices for consumers. The war in Iran has snarled the world’s energy supply, resulting in high oil and gas prices.

Reporter: “Are you concerned, Mr. President, about the latest inflation number which came out this morning? Could that be a —” “No, I love it. The numbers were great. You know what I really love. I love the inflation.” “Inflation to come down between now and —” “When the war is over?” “Yes.” “It’s coming down.” “I know you can’t —” “It’s going to come down like a rock.”

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President Trump dismissed the newest inflation report on Wednesday, marking the third-straight month of high prices for consumers. The war in Iran has snarled the world’s energy supply, resulting in high oil and gas prices.

By Jorge Mitssunaga

June 10, 2026

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Iran attacks Bahrain, Kuwait, Jordan and Hormuz ships after new US strikes

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Iran attacks Bahrain, Kuwait, Jordan and Hormuz ships after new US strikes

Iran has again claimed attacks on United States military bases in Bahrain, Kuwait and Jordan, and targeted two vessels in the Strait of Hormuz in retaliation for renewed waves of US attacks on the country.

The Islamic Revolutionary Guard Corps (IRGC) said it launched drone strikes on Bahrain’s Sheikh Isa airbase and Kuwait’s Ali Al Salem and Ahmad Al-Jaber airbases early on Thursday.

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The Al-Azraq airbase in Jordan was also targeted with 12 ballistic missiles, it said, while two oil tankers that attempted “to illegally pass through” the Strait of Hormuz were also hit.

Bahrain activated air raid sirens twice, while Kuwait said its air defence systems were “intercepting hostile aerial targets”.

The IRGC said the strikes were in response to the US’s “repeated violations” of an April ceasefire and declared the Strait of Hormuz “closed until further notice”.

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All traffic in the waterway, including oil tankers and commercial vessels, would be shot at, it said.

The attacks came after the US’s Central Command announced renewed strikes on “multiple targets” inside Iran. The military said the strikes were at President Donald Trump’s “direction” and “in response to Iran’s unwarranted and continued aggression”.

Tit-for-tat exchanges

Al Jazeera’s Mohamed Vall, reporting from Tehran, said about a dozen places were hit in three waves of attacks by the US, including in the city of Karaj, west of the Iranian capital, and in the central Abyek county.

Iranian state media reported multiple explosions on the islands of Qeshm and Kish and in the cities of Bandar Abbas and Sirik along the Strait of Hormuz.

Blasts also hit the southern city of Kargan, wounding at least two people.

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The US Central Command, which announced an end to the strikes four hours after they began at 22:15 GMT on Wednesday, said it hit “military surveillance capabilities, communication systems, and air defense sites across Iran”.

The latest exchange came a day after the two sides traded tit-for-tat strikes, triggered by the downing of a US Apache helicopter in the Strait of Hormuz. Washington blamed Tehran for the incident and said the two pilots were rescued uninjured.

Iran said it targeted the US Fifth Fleet in Bahrain, the Ali Al Salem airbase in Kuwait, as well as an airbase in Azraq, Jordan, on Wednesday. The US, meanwhile, bombed Qeshm Island as well as the ports of Sirik, Jask and Bandar Abbas.

Tehran said the US attacks destroyed two water reservoirs and damaged a telecommunications tower.

Al Jazeera’s Vall said many of the locations hit on Thursday “were similar to those hit during the previous night”. He said that “the Americans are betting on force as the only means for them to force the Iranians to sign a deal, but the Iranians are saying that the result will be the contrary”.

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Trump threatens Iran

At the White House on Wednesday, Trump accused Iran of stalling negotiations for a peace deal and threatened to hit the country “very hard”.

“We’ll see what happens with the deal. We were really close to a deal. But they keep tapping us along. They keep playing us for suckers,” he told reporters.

Earlier in the day, the US president wrote on his Truth Social platform that Iran had taken too long to negotiate a peace deal and “now they will have to pay the price”.

In a subsequent interview with Fox News, he also threatened to strike power plants and bridges in Iran if it was unwilling to sign an agreement.

Iran’s President Masoud Pezeshkian hit back in a post on X.

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“Critical infrastructures are the lifeblood of the people. Threats to target them – from transportation networks to the electricity and water industries – are not a show of strength but a sign of desperation in the face of a nation’s will,” he wrote.

“Iran, relying on the knowledge and capabilities of its specialists, national unity, and solidarity, will stand firm against any pressure or threat,” he added.

The US-Iran escalation comes days after Israel and Iran traded fire in their most serious clash since the April ceasefire, which ended weeks of devastating US-Israeli strikes on Iran and Iranian retaliatory attacks across the Gulf.

Traffic through the Strait of Hormuz has remained severely limited ever since, driving up oil and food prices worldwide.

Progress towards a peace deal also remains slow.

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The two sides are engaged in indirect talks aimed at securing an interim agreement that would halt hostilities, while deferring Iran’s nuclear programme to future negotiations.

But sticking points remain, with Iran demanding the release of frozen assets and relief from sanctions. Complicating matters further is Israel’s intensifying campaign in Lebanon against the Iranian-backed Hezbollah.

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Read the Charges Against 8 People Connected to the University of Michigan

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Read the Charges Against 8 People Connected to the University of Michigan

Case 5:26-cr-20306-JEL-EAS ECF No. 1, PageID.103 Filed 05/20/26 Page 13 of 63

Michigan. They littered the yard and porch with small tents, sheets wrapped to look like dead bodies, dismembered and bloody baby dolls, and a broken crib. They taped a demand note to the front door ordering, among other things, that the University of Michigan divest from Israel. c. On or about May 15, 2024, shortly after police arrived at V-1’s house, @safeumich, @jvpumich and @tahrirumich posted a video of the trespass with this message:
GOOD MORNING, @[V-1]. This morning, on the 76th anniversary of the Nakba, students hand delivered our demands to Regent [V-1]. About 2 weeks ago, she laughed at students demanding divestment while she attended a party next door to our encampment. Regent [V- 1], we will hold you accountable for the 35,000+ Palestinians martyrs whose death you funded and profited from. No matter how many times you call on violent cops to brutalize students, cancel and move your meetings to hide from students, and refuse to admit this university’s and YOUR complicity in genocide, we will continue to protest. You cannot hide. We demand divestment and will remain relentless in the struggle for a free Palestine.

d. On or about May 15, 2024, later in the day, @safeumich posted:

@[V-1] There’s nothing funny about genocide. This morning, the UMich Gaza Solidarity Encampment delivered our demands to Regent [V-1’s] door, the same regent who laughed in our faces as we told her, “[V-1, V-1] you can’t hide, you are funding genocide.” Since this morning, she has reiterated REFUSAL to divest on X. SHAME! We have communicated that the regents must respond to our demands with an open bargaining meeting for divestment by the end of their board meeting TOMORROW!… [V-1], if you aren’t losing sleep after funding mass murder and genocide, then WE WILL WAKE YOU UP!

e. On or about May 17, 2024, Unsalted Counter Info’s website cross-

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