NEW YORK: Dow Jones is dealing with the fallout from a computer error that resulted in a 70-minute reporting delay of the Dow Jones Industrial Average on February 27, a day in which the stock markets experienced its greatest daily slide since the September 11 attacks, in response to the Chinese market falling.
Sybille Reitz, director of PR for Dow Jones Indexes, said when the incident occurred on the February 27, the internal PR team worked to handle the influx of media inquiries.
"We simply tried to respond to everyone who asked," she said. The company handled everything internally.
The first priorities, she said, were responding to the wire services and other electronic media. Broadcast and print media followed.
"The most important thing we had to do is to clear the misunderstanding that an index provider is involved in market activities," she said. "The real story here is frankly a market story. The markets are showing high volumes and that's what I think journalists are concentrating on."
Another primary concern was reaching out to Dow Jones' licensees and clients, she added.
Reitz would not comment on media reports that the incident could spark lawsuits by companies affected by the reporting delay.
She noted that a statement issued by Dow Jones on February 28 seemed to satisfy media requests.