A computer glitch by the Dow Jones Industrial Average (DJIA) data system caused a sudden drop of around 200 points. The problem with the computers began at around 1:50 PM yesterday during a heavy selling event that caused a near 70-minute time lag in which the value of the DJIA wasnt calculated correctly. Almost an hour later, the switch to a backup computer was made. "The markets extraordinary trading volume caused a delay in the Dow Jones data systems," said Sybille Reitz, Dow Jones spokeswoman.
The Dow Jones Industrials was driven down more than 400 points yesterday, the biggest losses the market has seen since 9/11. The glitch that caused the near-instant drop almost caused a high level of panic, which analysts believe pushed the day price down even further. The closing price of Tuesdays exchanges was pronounced correct and Dow Jones Indexes is now currently investigating the computer issues to try and correct the source of the problem as soon as possible.
News source: DailyTech