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January 19, 2006

Nasdaq computer glitch leads to stock price errors

Exploding the myth that modern technology is infallible, a recent computer glitch at the Nasdaq Stock Market caused erroneous stock swing information to be posted on a number of major financial websites, according to media reports.

By CBR Staff Writer

As a consequence of a minor technical malfunction, websites were carrying the correct price of the stock in the current market, but the wrong change.

The erroneous information could potentially have led individual investors to make a misinformed judgment in deciding on a stock trade.

A spokeswoman for Nasdaq reportedly explained that the glitch represented 5 per cent of the day’s total transaction volume.

Assuming that another computer glitch has not since occurred, the stock listings are expected to have returned to normal.

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