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.I can see it already: Haliburton made the computer system, which was installed by KBR, and run by Diebold. The explosion in Afghanistan was the way the VP signaled his cronies to begin the Ricochet Scheme. The President approved it, btw, to get NPR to stop talking about Iraq. It should make an interesting made-for-tv movie.
Tuesday, February 27, 2007
From the WSJ: