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Glitch hits Nasdaq index
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February 18, 2000: 2:02 p.m. ET
Index falls about 75 points without updates due to problem with line from mainframe
By Staff Writer Chris Isidore
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NEW YORK (CNNfn) - Updated quotes for Nasdaq composite index were unavailable for more than two-and-a-half hours Friday due to a computer communications glitch, as the tech-heavy stock measure plunged nearly 75 points.
Nasdaq spokesman Scott Peterson said the problem did not affect trading of any individual stock because other communication lines could update the share price and trade information. But the composite index froze at 4,535.49, down 13.43 points on the day, at 11:25 a.m. ET. Information once again became available at 2:06 p.m. ET, with the index at 4,461.13
The problem was actually fixed soon after 1 p.m. ET, according to Wayne Lee, another exchange spokesman. But he said information that was queued up in the line kept the information on the index's value from being immediately available.
The communications line from the exchange's Unisys Corp. (UIS: Research, Estimates) computer in Connecticut also affected the quotes of symbols that began with the letters A through J going to the Nasdaq workstation number 2, including some of the index's largest cap stocks such as Cisco Systems Inc. (CSCO: Research, Estimates) and Dell Computer Corp. (DELL: Research, Estimates). That workstation is the main feed of information used by most dealers, according to Peterson. But he added that there were alternative sources of information on those individual stock prices.
Peterson said the problem is unrelated to the "denial-of-service" disruptions that hit many leading Web sites earlier this month.
"The Nasdaq network is not accessible by the Internet," he said.
The Nasdaq saw record trading volume Thursday of more than 2 billion shares. It also closed above the 4,500 mark for the first time, at 4,548.87, up 121.22 points, or 2.7 percent, for the day.
On Friday it closed down 137.18 points or 3.02 percent at 4.411.74. 
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