(Bloomberg) -- Jardine Matheson Holdings Ltd., the centuries-old conglomerate, plunged 83 percent in early trading and quickly recovered with traders speculating that a fat finger may have been the reason behind the dramatic drop.

The Singapore-listed stock dropped as shares changed hands at $10.99, compared with a Wednesday close of $66.47. It’s now reversed most of the loss with a 0.7 percent drop as of 9:31 a.m. in Singapore. The price action suggested that the plunge could have been caused by human error, according to four traders. A spokesperson for Singapore Exchange Ltd. said in an e-mail that the bourse is looking into the stock slide. Jardine Matheson didn’t immediately respond to requests for comment.

"Looking at the price recovery, it looks like a fat finger at the moment until we have more updates," said Marc Tan, a research analyst at KGI Securities Pte.

To contact the reporters on this story: Abhishek Vishnoi in Singapore at avishnoi4@bloomberg.net;Sofia Horta e Costa in Hong Kong at shortaecosta@bloomberg.net;Livia Yap in Singapore at lyap14@bloomberg.net

To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Sarah Wells

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