Hugh Winkler holding forth on computing and the Web

Tuesday, February 27, 2007

Glitch Undercuts the Dow

The Dow fell over 400 points today. And some IT guy's ass is fired. From Stocks Have Worst Day Since 9/11 Attacks:

The Dow's decline accelerated at a faster than normal pace during the afternoon after a computer glitch 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 the problem occurred after it was discovered computers were not properly calculating trades, prompting a switch to a backup computer.

The result was a massive plunge in the average in the seconds it took Dow Jones to switch to its secondary computers.

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