Amazon's and Alphabet's stock prices appeared to show a staggering drop of more than 80 percent.
It urged third party data providers to switch back to its official closing prices that were effective at 5:16 p.m. ET. Despite sporadic claims of some trades being made at the $123.47 price, Nasdaq told the FT that it did not affect market trading.
This is not the first time an exchange has experienced problems due to technical glitches.
The error could have occurred because of Monday's half-day of trading ahead of the July Fourth holiday, the Financial Times reported. "Nasdaq is working with third-party vendors to resolve the matter", a Nasdaq spokesperson was quoted as saying by MarketWatch.
Incorrect pricing data was briefly posted worldwide early Tuesday morning in Asia, showing a trades at $123.47 for Nasdaq-listed stocks, including Amazon.com, Inc.
Either way, as the markets had closed for July 4 celebrations, and the prices of the stocks were not actually changed, the error will have no effect on global trading or stock markets.
The glitch was seemingly triggered after financial information providers wrongly read Nasdaq data tests as live prices. Nasdaq routinely distributes test data as part of their "unlisted trading privileges" service. But yesterday a data glitch resulted in the Nasdaq reporting incorrect share prices for many high profile USA tech stocks.