Dollars and Jens
Tuesday, February 27, 2007
 
NYSE Glitch
I had wondered about this:

When the Dow Jones industrial average plunged to its low of the session Tuesday, it happened with incredible swiftness — a matter of seconds — because of a computer glitch that kept some trades from being immediately reflected in the index of 30 blue chip stocks.

Dow Jones & Co., the media company which manages the flagship index, said around 2 p.m — just two hours before the New York Stock Exchange was to close — it was discovered computers were not properly calculating trades. The company blamed the problem on the record volume at the NYSE, and switched to a backup computer.

when I saw this:
the market fell sharply around 2:58 and then rebounded a bit over the next 20 minutes

- posted by Steven @ 6:12 PM

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