Banks could be hit by a huge computer problem if soaring share prices push the Dow Jones index above the 10,000 mark, according to the Gartner Group. Much software cannot cope with more than four figure numbers and may interpret the first 10,000 figure as 1,000 or 0,000. With computer-based trading already strongly entrenched, many systems could interpret these figures as evidence as of massive Wall Street crash and unload stock at any price. With the Dow index pushing past the 9,200 level, many company are having to switch resources allocated to the Year 2000 problem to the new threat. Banks and share dealing companies are reluctant to comment on the situation and were reluctant to return our calls. Indeed, one of the reasons why Gartner issued the warning was a fear that many institutions do not yet recognize the risk. Many organizations will view the future with mixed feelings. On the one hand, they want the current bull run to continue – yet on the other they desperately need time to ensure their systems can cope if Down Jones passes another milestone.
