Tuesday’s DJIA Plunge: Backup Computers Freaked Out

Yesterday was the biggest market drop since trading began after 9/11.

Dow Jones & Co., the media company that manages the well-known index of 30 blue chip stocks, said it discovered shortly before 2 p.m. that its computers weren’t properly handling the day’s huge volume in trades at the New York Stock Exchange. It switched to a backup computer, and the result was a massive swoon in the index as the secondary system took over processing shortly before 3 p.m. The Dow plunged about 200 points almost instantly, and was down as much as 546 points – its worst single-session decline in more than five years, and one that sent the blue chips into negative territory for the year.

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About Andy Wibbels

Andy is an award-winning blogger and author of the book Blogwild! A Guide for Small Business Blogging. His work has been featured in The Wall Street Journal, USA Today, Entrepreneur, Wired, Business Week, Forbes, and other national and international media. He was worked at several San Francisco startups including Get Satisfaction, SAY Media, InMobi, Keas, and Mindjet. Currently, Andy is Director of Marketing at Lucidworks. Tw · Fb · G+ · Li

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