Computer Shut-down Costs Au Investors $36 Billion
Aug 17, 2007
75 minutes of madness sparked by a computer shut-down sent the stock market into freefall yesterday, costing investors $36 billion.
The glitch caused investors to lose their nerve and sell shares in a wild day of trading, sending the All Ordinaries index plunging more than 5 per cent.
After the computers were powered back up by mid-afternoon, traders recovered their nerve with the index closing down 1.5 per cent at a cost to investors of $22 billion.
Is there an opportunity lurking behind this story? Who knows! Just imagine, 22 billion dollars for a problem that exists for just over an hour - surely entrepreneurs with a nose for new business ideas will come up with an opportunity from this!
Souce: Herald Sun
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