Dow Computer error today before close

Discussion in 'Wall St. News' started by l4t13, Feb 27, 2007.

  1. l4t13


    The DOW Jones Company has confirmed a computer back up happened about an hour before close. They flipped on back up computers about 5 minutes before close, causing all the back up to go through at once and cause the end of the day rapid drop.

    The DOW was actually down 416 today it just wasnt down 200 all at once at the close.

    I will find a link soon. This is coming straight off cnbc.
  2. just posted this in another forum

    Scott Patterson reports on the Dow industrials quick 3 p.m. drop:

    The sudden, sharp decline by the Dow Jones Industrial Average shortly before 3 p.m. Eastern time today was triggered by a tabulation delay by Dow Jones data systems, which calculates the average. There was a temporary lag in calculation of the 30 large-stock average due to a surge in order flows as the market continued to tumble in afternoon trading, much like a clogged pipe. Just before 3 p.m., Dow Jones Indexes switched over to a backup system to calculate the average, which nearly instantly registered the huge move.

    The glitch wasn’t the cause of the decline, but it did cause the drop to register far more quickly than it otherwise would have. Other indexes fell at the same time, but more gradually. Some traders noticed a discrepancy between futures contracts tied to the Dow industrials and the index, which directly tracks the stocks. Usually, the futures contracts closely track the overall average.

    “There was a huge disconnect between the Dow futures and the Dow average” of about 200 points, said Brian Williamson, an equity trader at Boston Company Asset Management.
  3. Surdo


    CNBC is one of the most unreliable biased pieces of sh*t!
  4. At least we can be thankful that the backup computers weren't running on Vista.

    Glad to see that all the fees that are paid out through commissions buys a backup system that crashes the index - in realtime.

    Who you goin' to call?

    P.S. The monitor in the picture should have CNBC displayed.


  5. SOLID54


    I love that picture. I always wondered what the big wheel was for?
  6. What a drop! Exciting times ... I wonder how China will react once they open?

    Bring the truck back -- there's a big sale on stocks!
  7. Story makes no sense
  8. what's the big news here basically. all they are saying is that there was an outage and hence the gap showing on data feeds. the decline did happen. and it was so wide scale that it clogged their system.
  9. #10     Feb 27, 2007