Dow Collapse Overwhelmed Biz TV Stations, Financial Websites
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Cable news anchors and financial Web sites struggled to keep up as the Dow fell nearly 1,000 points and then mostly rebounded in a matter of minutes Thursday afternoon …
Web sites like Bloomberg.com were hammered by traffic, causing technical problems, though the company’s Bloomberg terminals remained up and running …
Cable news anchors and financial Web sites struggled to keep up as the Dow fell nearly 1,000 points and then mostly rebounded in a matter of minutes Thursday afternoon …
Web sites like Bloomberg.com were hammered by traffic, causing technical problems, though the company’s Bloomberg terminals remained up and running …
Cable news anchors and financial Web sites struggled to keep up as the Dow fell nearly 1,000 points and then mostly rebounded in a matter of minutes Thursday afternoon …
Web sites like Bloomberg.com were hammered by traffic, causing technical problems, though the company’s Bloomberg terminals remained up and running …
On the Web, Bloomberg said its Web site was “experiencing a technical problem” shortly after 3 p.m. Eastern.
TechCrunch said that at the peak of the sell-off, Web sites were “failing left and right.” [br]
The TechCrunch blogger MG Siegler wrote, “Google Finance keeps bringing up an error message to ‘please try again in 30 seconds.’ Yahoo Finance, meanwhile is completely down.
“Trying to look for the news via Twitter, meanwhile, yields mixed results.
“At one point when the Dow was down about 1,000, plenty of people were still tweeting that it was down 400. Others were saying it was down 600, etc.
“The problem is that the ‘realtime’ web wasn’t even fast enough for how fast things were crashing.”
Yahoo later confirmed that its business Web site also found itself overwhelmed by users as the markets trembled this afternoon.
“Yahoo! Finance experienced intermittent issues related to traffic from today’s market activity,” the company said in a statement. “We will continue to monitor and resolve the issue as necessary” …
As the Dow briefly dipped below the 10,000 mark, one of the anchors on Bloomberg TV called it a “breathtaking drop, breathtaking decline,” as others read out loud just how far the stock index had fallen.
The anchors on CNBC, Bloomberg and the Fox Business Network didn’t panic,
but they did turn their collective attention to the Dow between 2:40 and 2:50 p.m. Eastern when the market nosedive took place. [br]
“I don’t mean to sound like a broken record here, but this thing just continues to break records,” the Fox Business anchor David Asman said of the Dow’s drop.
At times, the cable anchors were talking over one another, making it especially hard to make sense of what was being said,
according to this piece from the New York Times own website.
(Four minutes of CNBC’s coverage are up on YouTube, courtesy Business Insider.) …
CNBC anchor Erin Burnett called the uncontrolled selling an “an absolutely stupendous story.”
As she signed off her program, “Street Signs,” at the end of the 2 p.m. hour,
she called it the “the most exciting 15 minutes in ‘Street Signs’ history.”
Soon afterward, reporters for the cable business channels started interviewing traders who were essentially eyewitnesses to the sell-off.
At the time of the dramatic drop, the business news channels had their cameras fixated on Athens, Greece,
where there had been violent protests against the government’s budget cuts.
That country’s debt crisis has burdened investors around the world.
Interestingly, the cable business channels barely showed the floor of the New York Stock Exchange,
tacitly acknowledging that some of the steepness of the drop was triggered by computers, not traders.
The business channels said they would broadcast special reports about the market declines through the early evening hours.
