Y2K (Year 2000) Stocks: An Investment Discussion Message Board

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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion

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To: P. Ramamoorthy who wrote (13144)	10/27/1998 8:50:00 AM
From: P. Ramamoorthy	Read Replies (1) of 13949

NEW YORK (Reuters) - A computer hardware problem froze trading at the New York Stock Exchange Monday afternoon, placing U.S. financial markets in a state of near suspended animation for almost an hour. The interruption halted stock trading on the world's largest exchange from 1:16 p.m. (1816 GMT) until 2:15 p.m. (1915 GMT) and was the first of its kind in the nearly three years since Dec. 18, 1995, when a communications problem caused a one-hour opening delay on the Big Board. NYSE President William Johnston said the exchange reluctantly shut trading after a network switch at one of the exchange's remote computer locations malfunctioned and began spewing electronic "noise" through the messaging system. According to traders on the floor, the breakdown appeared to first afflict computers at specialist stations on the floor of the exchange. Those booths act as the center of operations for firms whose duty it is to maintain an orderly market in individual stocks. "We never like to close down trading," Johnston said.

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