Computer hiccup distorted Dow Jones decline
Computers at the New York Stock Exchange couldn’t keep up with orders on Tuesday and eventually registered a seemingly extra 170 point drop in the Dow Jones Industrial Average in a matter of seconds. Computers started lagging at 2 PM EST and couldn’t calculate the famous index fast enough. The exchange switched over to backup systems at 3PM which almost instantly calculated the true number which was down more than 450 points for the day.
The sudden drop caused panic selling on the floor and also tripped automated selling programs.
Read more ... Los Angeles Times
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